Md. Code, Economic Development § 10-225
This is the official text of Md. Code, Economic Development § 10-225, part of Maryland’s Code, Economic Development — governs the state's economic development programs.
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§10–225.
Official statutory text
(a) The Authority may pledge or assign:
(1) any of its revenues;
(2) its rights to receive its revenues;
(3) money or securities in accounts established to secure a bond; or
(4) a lien or security interest granted or assignment made to the Authority.
(b) (1) A pledge or assignment under subsection (a) of this section is valid and binding from the time the pledge or assignment is made.
(2) A lien, security interest, or assignment under subsection (a) of this section:
(i) attaches immediately to the revenues or property pledged and then received by the Authority, without any physical delivery or further act; and
(ii) is valid and binding against any person having a claim against the Authority, regardless of whether the person has notice of the pledge, and without the recording or filing of an instrument.
(1) any of its revenues;
(2) its rights to receive its revenues;
(3) money or securities in accounts established to secure a bond; or
(4) a lien or security interest granted or assignment made to the Authority.
(b) (1) A pledge or assignment under subsection (a) of this section is valid and binding from the time the pledge or assignment is made.
(2) A lien, security interest, or assignment under subsection (a) of this section:
(i) attaches immediately to the revenues or property pledged and then received by the Authority, without any physical delivery or further act; and
(ii) is valid and binding against any person having a claim against the Authority, regardless of whether the person has notice of the pledge, and without the recording or filing of an instrument.
Status: in_force · Read it on the official government site
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