Section 374-E:10 Effect of Pledge. - New Hampshire Statutes

Any pledge of revenues or other moneys made by the division shall be valid and binding from the time when the pledge is made. The revenues or other moneys so pledged and thereafter received by the division shall immediately be subject to the lien of such pledge without any physical delivery of such revenues or moneys or further act and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the division, irrespective of whether such parties have notice of such lien. Neither the resolution, trust indenture, nor any other instrument by which a pledge is created need be filed or recorded in order to establish and perfect a lien or security interest in the property so pledged.

Source. 1981, 545:7, eff. Aug. 29, 1981.