KRS 247.954: Pledge of assets or revenues of corporation binding.

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 issued in its lending agency capacity

shall be valid and binding from the time such pledge is made, and any suc h assets or

revenues shall immediately 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

corporation, regardless of whether such parties have notice thereof. Nothing herein

contained shall be construed to prohibit the corporation from selling any assets subject to

any such pledge except to the extent that any such s ale may be restricted by the terms of

the trust agreement or resolution authorizing the issuance of such obligations.