Arkansas § 15-5-313 Pledge valid and binding - Lien

Arkansas Statutes

§ 15-5-313 — Pledge valid and binding - Lien

Arkansas § 15-5-313

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This text of Arkansas § 15-5-313 (Pledge valid and binding - Lien) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 15-5-313 (2026).

Text

(a)Any pledge of revenues, moneys, funds, or other property made by the Arkansas Development Finance Authority shall be valid and binding from the time when the pledge is made and the revenues, moneys, funds, or other property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without the physical delivery thereof or further act on the part of the authority, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice thereof.

(b)Neither the authorizing resolution nor any other instrument by which a pledge is created need be filed or recorded, except in the records of the authority.

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(a) Any pledge of revenues, moneys, funds, or other property made by the Arkansas Development Finance Authority shall be valid and binding from the time when the pledge is made and the revenues, moneys, funds, or other property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without the physical delivery thereof or further act on the part of the authority, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice thereof. (b) Neither the authorizing resolution nor any other instrument by which a pledge is created need be filed or recorded, except in the records of the authority.