[1987, c. 807, §3(NEW).]
[2015, c. 170, §21(AMD); 2015, c. 170, §30(AFF).]
[2015, c. 170, §21(AMD); 2015, c. 170, §30(AFF).]
The revenues pledged are immediately subject to the lien of the pledge without any physical delivery, recording of any instrument or further act and the lien of any pledge is valid and binding against any person having any claim of any kind in tort, contract or otherwise against the authority or any participating institution or borrower, irrespective of whether the person has notice.
No bond resolution, trust agreement or financing statement, continuation statement or other instrument adopted or entered into by the authority under this chapter need be filed or recorded in any public record other than the records of the authority in order to perfect the lien against 3rd persons, regardless of any contrary provision of law.
[2015, c. 170, §21(AMD); 2015, c. 170, §30(AFF).]
Any officer with whom, or any bank or trust company with which, that money is deposited shall act as trustee of the money and shall hold and apply it for the purposes provided in the chapter and any applicable bond resolution or trust agreement.
[1987, c. 807, §3(NEW).]
20-A M.R.S. § 11423