Section 10-127 - Pledge. - Maryland Statutes

§ 10-127. Pledge.
 

(a)  Assets that may be pledged.- 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)  Status.- 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)  Creation.- 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. 
 

[An. Code 1957, art. 83A, § 5-206(j); 2008, ch. 306, § 2.]