KRS 164A.100: Pledge of assets or revenues of corporation.

The pledge of any assets or revenues of the corporation to the payment of the principal of

or the interest on any obligations of the corporation shall be valid and binding from the

time when the pledge is made and any such assets or revenues shall immediat ely be

subject to the lien of such pledge without any physical delivery thereof or further act, and

the lien of any such pledge shall be valid and binding as against all parties having claims

of any kind in tort, contract or otherwise against the corporati on, irrespective of whether

such parties have notice thereof. Nothing herein shall be construed to prohibit the

corporation from selling any assets subject to any such pledge except to the extent that

any such sale may be restricted by the trust agreement or resolution providing for the

issuance of such obligations.