There is a newer version of the New Jersey Revised Statutes
2009 New Jersey Code
TITLE 52 - STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Section 52:18A
52:18A-78.16 - Pledge of revenue and assets; validity; lien
52:18A-78.16. Pledge of revenue and assets; validity; lienAny pledge of revenues, receipts, moneys, funds, levies, sales agreements, service contracts or other property or instruments made by the authority shall be valid and binding from the time when the pledge is made. The revenues, receipts, moneys, funds or other property so pledged and thereafter received by the authority or a subsidiary shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the authority irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge under this section is created need be filed or recorded except in the records of the authority.
L.1981, c. 120, s. 16, eff. April 16, 1981.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
