<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="10-225" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="2" subtitle_name="Maryland Food Center Authority">
  <level label="a">
    <text>The Authority may pledge or assign:</text>
    <level label="1">
      <text>any of its revenues;</text>
    </level>
    <level label="2">
      <text>its rights to receive its revenues;</text>
    </level>
    <level label="3">
      <text>money or securities in accounts established to secure a bond; or</text>
    </level>
    <level label="4">
      <text>a lien or security interest granted or assignment made to the Authority.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>A pledge or assignment under subsection (a) of this section is valid and binding from the time the pledge or assignment is made.</text>
    </level>
    <level label="2">
      <text>A lien, security interest, or assignment under subsection (a) of this section:</text>
      <level label="i">
        <text>attaches immediately to the revenues or property pledged and then received by the Authority, without any physical delivery or further act; and</text>
      </level>
      <level label="ii">
        <text>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.</text>
      </level>
    </level>
  </level>
</section>
