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<section article="gec" article_name="Economic Development" number="10-845" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="8" subtitle_name="Maryland Clean Energy Center">
  <level label="a">
    <level label="1">
      <text>Any pledge of revenues and other money under § 10–840(h) of this subtitle is valid and binding from the time the pledge is made.</text>
    </level>
    <level label="2">
      <level label="i">
        <text>The revenue or money that the Center pledges and receives is subject immediately to the lien of the pledge.</text>
      </level>
      <level label="ii">
        <text>Neither physical delivery of the revenue or money nor any other act is required to validate the lien.</text>
      </level>
    </level>
    <level label="3">
      <text>The lien of the pledge is valid and binding against each party with a claim against the Center in tort, contract, or otherwise, regardless of whether the party has notice of the lien.</text>
    </level>
  </level>
  <level label="b">
    <text>The trust agreement and any other agreement or lease creating a pledge under this section need not be filed or recorded, except in the records of the Center.</text>
  </level>
</section>
