Md. Code, Econ. Dev. § 10-518

Current with changes from the 2024 Legislative Session
Section 10-518 - 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 contract, tort, 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.

Md. Code, EC § 10-518