New Hampshire § 35-A:10 Effect of Pledge

New Hampshire Statutes

§ 35-A:10 — Effect of Pledge

New Hampshire § 35-A:10

Title IIITOWNS, CITIES, VILLAGE DISTRICTS, AND UNINCORPORATED PLACES

Ch. 35-ANEW HAMPSHIRE MUNICIPAL BOND BANK

This text of New Hampshire § 35-A:10 (Effect of Pledge) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 35-A:10 (2026).

Text

Any pledge of revenues or other moneys made by the bank shall be valid and binding from the time when the pledge is made; the revenues or other moneys so pledged and thereafter received by the bank shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the bank, irrespective of whether such parties have notice thereof. Neither the resolution, trust indenture nor any other instrument by which a pledge is created need be filed or recorded in order to establish and perfect a lien or security interest in the property so pledged.

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Any pledge of revenues or other moneys made by the bank shall be valid and binding from the time when the pledge is made; the revenues or other moneys so pledged and thereafter received by the bank shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the bank, irrespective of whether such parties have notice thereof. Neither the resolution, trust indenture nor any other instrument by which a pledge is created need be filed or recorded in order to establish and perfect a lien or security interest in the property so pledged.