Section 10-518 - Pledge.
§ 10-518. Pledge.
(a) Assets that may be pledged.- 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) Status.- A pledge or assignment:
(1) is valid and binding against any person having a claim against the Corporation, in contract, tort, or otherwise, regardless of whether the person has notice of the pledge or assignment; and
(2) has priority over the claim.
(c) Creation.- 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.
[An. Code 1957, art. 41, § 13-510(j); 2008, ch. 306, § 2.]