New Jersey § 55:14K-23 Pledges of income, revenues or other property

New Jersey Statutes

§ 55:14K-23 — Pledges of income, revenues or other property

New Jersey § 55:14K-23

Title 55TENEMENT HOUSES AND PUBLIC HOUSING

This text of New Jersey § 55:14K-23 (Pledges of income, revenues or other property) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 55:14K-23 (2026).

Text

Any pledge made by the agency of income, revenues or other property shall be valid and binding from the time the pledge is made. The income, revenue or other property so pledged by the agency shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the agency, irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be filed or recorded except in the records of the agency. L.1983, c. 530, s. 23, eff. Jan. 17, 1984.

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Any pledge made by the agency of income, revenues or other property shall be valid and binding from the time the pledge is made. The income, revenue or other property so pledged by the agency shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the agency, irrespective of whether such parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be filed or recorded except in the records of the agency. L.1983, c. 530, s. 23, eff. Jan. 17, 1984.