1. (a) The Authority may pledge or assign:

   1. (1) any of its revenues;
   2. (2) its rights to receive its revenues;
   3. (3) money or securities in accounts established to secure a bond; or
   4. (4) a lien or security interest granted or assignment made to the Authority.

2. (b)

   1. (1) A pledge or assignment under subsection (a) of this section is valid and binding from the time the pledge or assignment is made.

   2. (2) A lien, security interest, or assignment under subsection (a) of this section:

      1. (i) attaches immediately to the revenues or property pledged and then received by the Authority, without any physical delivery or further act; and
      2. (ii) is valid and binding against any person having a claim against the Authority, regardless of whether the person has notice of the pledge, and without the recording or filing of an instrument.

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.