§ 10-127. Pledge

   (a) Assets that may be pledged. -- 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) Status. -- 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) Creation. -- 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.

HISTORY: An. Code 1957, art. 83A, § 5-206(j); 2008, ch. 306, § 2.