2.2-2300 - Pledge by Authority. - Virginia Statutes

§ 2.2-2300. Pledge by Authority.

Any pledge made by the Authority shall be valid and binding from the timewhen the pledge was made. The revenues or properties so pledged andthereafter received by the Authority shall immediately be subject to the lienof such pledge without any physical delivery thereof or further act, and thelien of any such pledge shall be valid and binding as against all partieshaving claims of any kind in tort, contract or otherwise against theAuthority, irrespective of whether the parties have notice thereof. Neitherthe resolution nor any other instrument by which a pledge is created need berecorded.

(1984, c. 749, § 9-224; 2001, c. 844.)