Maryland Statutes
Subtitle 2 - Maryland Food Center Authority
Section 10-225 - Pledge

(a)    The Authority may pledge or assign:
        (1)    any of its revenues;
        (2)    its rights to receive its revenues;
        (3)    money or securities in accounts established to secure a bond; or
        (4)    a lien or security interest granted or assignment made to the Authority.
    (b)    (1)    A pledge or assignment under subsection (a) of this section is valid and binding from the time the pledge or assignment is made.
        (2)    A lien, security interest, or assignment under subsection (a) of this section:
            (i)    attaches immediately to the revenues or property pledged and then received by the Authority, without any physical delivery or further act; and
            (ii)    is valid and binding against any person having a claim against the Authority, regardless of whether the person has notice of the pledge, and without the recording or filing of an instrument.

Structure Maryland Statutes