Maryland § 24-520
Full text of Maryland Maryland Code § 24-520, with citation guidance and answers to common questions.
§ 24-520.
(a) A pledge by the Commission of revenues as security for an issue of bonds shall be valid and binding from the time when the documents evidencing the pledge are executed by the Commission.
(b) (1) The revenues that the Commission pledges may be made immediately subject to the lien of the pledge without any physical delivery or further act.
(2) The lien of any pledge of revenue is valid and binding against any person who has any claim in tort, contract, or otherwise against the Commission, whether or not the person has notice.
(c) In order to perfect the lien on the revenue pledged by the Commission against third persons, a resolution, trust agreement or financing statement, continuation statement, or other instrument that the Commission adopts or enters into need not be filed or recorded in any public record other than the records of the Commission.
Frequently Asked Questions About Maryland § 24-520
What does Maryland Code § 24-520 cover?
Section 24-520 is part of the Maryland Code, the codified statutory law of Maryland. 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 Maryland § 24-520?
A common citation format is "Maryland Code § 24-520" (Maryland). 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 Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 24-520 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland 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 Maryland.