{"data":{"id":"us-mi/mich.-comp.-laws-324.50163","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 324.50163","heading":"Pledge and lien of pledge valid and binding; recordation not required.","body":"Sec. 50163.\n\nA pledge made by a district shall be valid and binding from the time the pledge is made. The money or property pledged and thereafter received by a district is immediately subject to the lien of the pledge without physical delivery or a further act. The lien of a pledge is valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against a district, irrespective of whether the parties have notice of the claim. Neither the resolution nor any other instrument by which a pledge is created need be recorded.","path":["MI Code","Chapter 324","Act Act-451-of-1994"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-324-50163","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"de66b2c63f44acf89d7bd02df3914c73eeb1a2202a5373f2a8a3d44ce1abed18","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-324.50162","next":"us-mi/mich.-comp.-laws-324.50164"},"notice":"GroundRules: Original legal text. Not legal advice."}