Rhode Island § 23-99-13 - The Rhode Island Life Science Hub Act

§ 23-99-13. Lien status — Recording.

Notwithstanding any provision of any other law, including the uniform commercial code:

(1) Any pledge or assignment of revenues of any kind, funds, property, or assets made pursuant to the provisions of this chapter by the hub shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise, whether or not the parties have notice thereof, and shall be deemed continuously perfected from the time it is made;

(2) The revenues, funds, property, or assets, rights therein and thereto and proceeds so pledged and then held or thereafter acquired or received by the hub shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act;

(3) No filing of any kind with respect to a pledge or assignment need be made under the uniform commercial code, as amended, or otherwise; and

(4) For the purposes of this section, the word “pledge” shall be construed to include the grant of a security interest under the uniform commercial code.