2011 Louisiana Laws
Revised Statutes
TITLE 40 — Public health and safety
RS 40:600.10 — Statutory pledge
§600.10. Statutory pledge
NOTE: Repealed by Acts 2011, No. 408, §3, eff. midnight, June 30, 2012.
Any pledge made by the agency shall be valid and binding from the time when the pledge is made. The money, assets or revenues of the agency so pledged and thereafter received by the agency 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 agency, irrespective of whether such parties have notice thereof. Neither the resolution or any other instrument by which a pledge is created need be recorded or filed in order to establish and perfect a lien or security interest in the property so pledged.
Added by Acts 1980, No. 707, §1, eff. July 24, 1980; Acts 2011, No. 408, §3, eff. midnight, June 30, 2012.
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