§ 10-518

Maryland § 10-518

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

(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 contract, tort, 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.