Indiana § 5-1.2-4-12 Pledges

Indiana Statutes

§ 5-1.2-4-12 — Pledges

Indiana § 5-1.2-4-12

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 4General Powers and Duties

This text of Indiana § 5-1.2-4-12 (Pledges) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.2-4-12 (2026).

Text

Any pledge made by the authority is valid
and binding from the time when the pledge is made. The revenue,
money, or properties so pledged and received by the authority after the
pledge is immediately subject to the lien of the pledge without any
physical delivery or further act, and the lien of any pledge is valid and
binding against all parties having claims of any kind in tort, contract,
or otherwise against the authority, irrespective of whether the parties
have notice. The resolution or any other instrument by which a pledge
is created does not need to be recorded.

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Any pledge made by the authority is valid
and binding from the time when the pledge is made. The revenue,
money, or properties so pledged and received by the authority after the
pledge is immediately subject to the lien of the pledge without any
physical delivery or further act, and the lien of any pledge is valid and
binding against all parties having claims of any kind in tort, contract,
or otherwise against the authority, irrespective of whether the parties
have notice. The resolution or any other instrument by which a pledge
is created does not need to be recorded.