Georgia Code
Subpart 2 - Educational Loans Financed by Revenue Bonds
§ 20-3-346. Lien of Pledge of Revenues or Assets of Authority

The pledge of any revenues or assets of the authority to the payment of the principal of or the interest on any obligations of the authority shall be valid and binding from the time when the pledge is made; and any such assets or revenues shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act. 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 authority, irrespective of whether such parties have notice of such pledge. Nothing in this Code section shall be construed to prohibit the authority from selling any assets subject to any pledge, except to the extent that any such sale may be restricted by a trust agreement or resolution providing for the issuance of obligations of the authority.
History. Code 1933, § 32-3732, enacted by Ga. L. 1980, p. 835, § 3.

Structure Georgia Code

Georgia Code

Title 20 - Education

Chapter 3 - Postsecondary Education

Article 7 - Scholarships, Loans, and Grants

Part 3 - Georgia Student Finance Authority

Subpart 2 - Educational Loans Financed by Revenue Bonds

§ 20-3-340. Legislative Findings; Purpose of Subpart

§ 20-3-341. Definitions

§ 20-3-342. Educational Loan Program Activities Authorized; Powers and Duties of Authority

§ 20-3-343. Credit of State Not Pledged for Payment of Authority Obligations; Revenues and Assets Available for Payment

§ 20-3-344. Issuance of Bonds and Notes of Authority; Amount; Interest; Form; Execution; Use of Proceeds; Validation

§ 20-3-345. Trust Agreements Authorized; Provisions of Trust Agreements and Bond Resolutions

§ 20-3-346. Lien of Pledge of Revenues or Assets of Authority

§ 20-3-347. Moneys Received by Authority Deemed Trust Funds; Investment

§ 20-3-348. Rights of Holders of Obligations of Authority

§ 20-3-349. Obligations of Authority Are Negotiable Instruments

§ 20-3-350. Obligations of Authority Are Legal Investments and Deposits

§ 20-3-351. Issuance of Refunding Obligations by Authority

§ 20-3-352. Reserve or Replacement Funds of Authority

§ 20-3-353. Exemption of Directors and Officers of Authority From Personal Liability

§ 20-3-354. Payment of Expenses From Appropriations and Income

§ 20-3-355. Tax Exemptions of Authority and Its Bonds and Notes; Exceptions

§ 20-3-356. Interests of Bondholders Protected

§ 20-3-357. Termination or Dissolution of Authority

§ 20-3-358. SubPart And Part Deemed Supplemental to Other Laws