Maryland Statutes
Subtitle 1 - Maryland Economic Development Corporation
Section 10-127 - Pledge

(a)    The Corporation may pledge or assign:
        (1)    any of its revenues;
        (2)    any of its rights to receive revenues;
        (3)    money and securities in accounts established to secure a bond; and
        (4)    a lien or security interest granted or assignment made to the Corporation.
    (b)    A pledge or assignment:
        (1)    is valid and binding against any person having a claim against the Corporation in tort, contract, or otherwise, regardless of whether the person has notice of the pledge or assignment; and
        (2)    has priority over the claim.
    (c)    A resolution, trust agreement, assignment, financing agreement or other instrument that creates a lien, security interest, assignment, or pledge under subsection (a) of this section:
        (1)    shall be filed in the records of the Corporation; but
        (2)    need not be filed or recorded elsewhere.

Structure Maryland Statutes