§ 237-A:5 — Pledge of Revenues or Other Property

Any pledge of revenues or other property made by the state under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of RSA 382-A and other laws from the time when the pledge is made; the revenues, moneys, rights and proceeds so pledged and then held or thereafter acquired or received by the state shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act; and the lien of such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the state, irrespective of whether such parties have notice thereof. No such revenues may be used in a manner inconsistent with the pledge. Neither the resolution, any trust or security agreement nor any other agreement by which a pledge is created need be filed or recorded except in the records of the secretary of state and no filing need be made under RSA 382-A.

Legislative History

1986, 203:14, eff. June 3, 1986.