§ 10–518
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 10-518 (2026)
Title 10. Statewide Development Resources and Revenue Authorities
Subtitle 5. Maryland Agricultural and Resource-Based Industry Development Corporation
§ 10–518LinkCopy Citation
(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.