{"data":{"id":"us-md/md.-code-local-government-1-1426","jurisdiction":"us-md","citation":"Md. Code, Local Government § 1–1426","heading":"","body":"(a) (1) Any pledge of revenues and other money under § 1–1420(i) of this\nsubtitle is valid and binding from the time the pledge is made.\n(2) (i) The revenue or money that an authority pledges and\nreceives is subject immediately to the lien of the pledge.\n(ii) Neither physical delivery of the revenue or money nor any\nother act is required to validate the lien.\n(3) The lien of the pledge is valid and binding against each party with\na claim against the authority in tort, contract, or otherwise, regardless of whether\nthe party has notice of the lien.\n(b) The trust agreement and any other agreement or lease creating a pledge\nunder this section need not be filed or recorded, except in the records of the authority.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=1-1426","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"c65f340d93c04cfebe275825615a81d7ae61e95cecf8c97a8458b6f46c8eb661","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-1-1425","next":"us-md/md.-code-local-government-1-1427"},"notice":"GroundRules: Original legal text. Not legal advice."}