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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) 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) 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) 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.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 10-127 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-10-127/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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