Rhode Island § 46-12.2-19 § 46-12.2-19. Lien status — Recording.

Rhode Island Statutes

§ 46-12.2-19 — § 46-12.2-19. Lien status — Recording.

Rhode Island § 46-12.2-19

Title 46Waters and Navigation

Ch. 46-12.2Rhode Island Infrastructure Bank

This text of Rhode Island § 46-12.2-19 (§ 46-12.2-19. Lien status — Recording.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 46-12.2-19 (2026).

Text

§ 46-12.2-19. Lien status — Recording.
(a) Notwithstanding any provision of any other law, including the Uniform Commercial Code:
         
(1) Any pledge or assignment of revenues of any kind, funds, loan agreements, local governmental
            obligations, property, or assets made pursuant to the provisions of this chapter or
            chapter 18 of title 24 by the agency, or any local governmental unit hereunder, shall be valid and binding
            against all parties having claims of any kind in tort, contract, or otherwise, whether
            or not the parties have notice thereof, and shall be deemed continuously perfected
            from the time it is made;

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§ 46-12.2-19. Lien status — Recording.

(a) Notwithstanding any provision of any other law, including the Uniform Commercial Code:

(1) Any pledge or assignment of revenues of any kind, funds, loan agreements, local governmental obligations, property, or assets made pursuant to the provisions of this chapter or chapter 18 of title 24 by the agency, or any local governmental unit hereunder, shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise, whether or not the parties have notice thereof, and shall be deemed continuously perfected from the time it is made;

(2) No filing of any kind with respect to a pledge or assignment need be made under the Uniform Commercial Code, as amended, or otherwise;

(3) Unless otherwise provided in the loan agreement, a pledge of revenues of any kind shall be deemed to include a pledge of any accounts or general intangibles from which the pledged revenues are derived, whether existing at the time of the pledge or thereafter coming into existence, and whether held at the time of the pledge or thereafter acquired by the agency or local governmental unit, and the proceeds of the accounts or general intangibles; and

(4) The pledge of revenues of any kind, accounts, and general intangibles shall be subject to the lien of the pledge without delivery or segregation, and the lien of the pledge shall be valid and binding against all parties having claims of contract or tort or otherwise against the agency or local governmental unit.

(b) A pledge of revenues of any kind under this chapter or chapter 18 of title 24 shall constitute a sufficient appropriation thereof for the purposes of any provision for appropriation, and the revenues may be applied as required by the pledge without further appropriation.

(c) For the purposes of this section, the word "pledgeâ€� shall be construed to include the grant of a security interest under the Uniform Commercial Code.