§ 116-41.6. Pledge of revenues; lien. - North Carolina Statutes

§ 116‑41.6.  Pledgeof revenues; lien.

All pledges of revenues under the provisions of this Part shall bevalid and binding from the time such pledges are made. All such revenues sopledged shall immediately upon receipt thereof be subject to the lien of suchpledge without any physical delivery thereof or further action, and the lien ofsuch pledge shall be valid and binding as against all parties having claims ofany kind in tort,  contract or otherwise against the University, irrespectiveof whether  such parties have notice thereof. (1961, c. 1078, s. 6.)