Arkansas § 15-5-313 - Pledge valid and binding — Lien.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-5-313 — Pledge valid and binding — Lien., with citation guidance and answers to common questions.
§ 15-5-313. Pledge valid and binding — Lien.
Any pledge of revenues, moneys, funds, or other property made by the Arkansas Development Finance Authority shall be valid and binding from the time when the pledge is made and the revenues, moneys, funds, or other property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without the physical delivery thereof or further act on the part of the authority, and the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice thereof. Neither the authorizing resolution nor any other instrument by which a pledge is created need be filed or recorded, except in the records of the authority.
Frequently Asked Questions About Arkansas § 15-5-313
What does Arkansas Code of 1987 Annotated § 15-5-313 cover?
Section 15-5-313 ("Pledge valid and binding — Lien.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 15-5-313?
A common citation format is "Arkansas Code of 1987 Annotated § 15-5-313" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 15-5-313 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.