§ 10-127. Pledge

MD Econ Dev Code § 10-127 (2019) (N/A)
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(a)    The Corporation may pledge or assign:

(1)    any of its revenues;

(2)    any of its rights to receive revenues;

(3)    money and securities in accounts established to secure a bond; and

(4)    a lien or security interest granted or assignment made to the Corporation.

(b)    A pledge or assignment:

(1)    is valid and binding against any person having a claim against the Corporation in tort, contract, or otherwise, regardless of whether the person has notice of the pledge or assignment; and

(2)    has priority over the claim.

(c)    A resolution, trust agreement, assignment, financing agreement or other instrument that creates a lien, security interest, assignment, or pledge under subsection (a) of this section:

(1)    shall be filed in the records of the Corporation; but

(2)    need not be filed or recorded elsewhere.