Montana Statutes
§ 17-5-1528 — Validity Of Pledge
17-5-1528 . Validity of pledge. Any pledge made by the board is valid and binding from the time the pledge is made. Revenue, money, or property pledged and received by the board is immediately subject to the lien of the pledge without any physical delivery or further act. The lien of any pledge is valid and binding against all parties having claims of any kind, whether in tort, contract, or otherwise, against the board, irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created is required to be recorded.
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Legislative History
En. Sec. 25, Ch. 686, and Sec. 27, Ch. 701, L. 1983.
Nearby Sections
15
§ 17-5-1001
Action To Restrain Bond Issues§ 17-5-101
Definitions§ 17-5-105
Redemption Of Bonds -- Optional Method§ 17-5-106
Notice Of Public Bond Sale§ 17-5-108
Through 17-5-110 Reserved§ 17-5-1101
Short Title§ 17-5-1102
Definitions§ 17-5-1103
Declarations Of State Interest -- Purposes§ 17-5-1104
Construction§ 17-5-1105
Applicability -- Election -- Rescission§ 17-5-1106
Records -- No Public Inspection -- Locations