The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
PROTECTION OF BOND AND NOTEHOLDERS
(Cite as: 24 V.S.A. § 4708)
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§ 4708. Pledge of revenues; lien thereof
Any pledge of revenues or other monies made by the Bank is binding from the time when
the pledge is made. Revenues or other monies so pledged and thereafter received by
the Bank shall immediately be subject to the lien of the pledge without any physical
delivery thereof or further act, and the lien of any pledge is binding against all
parties having claims of any kind in tort, contract, or otherwise against the Bank,
irrespective of whether the parties have notice thereof. Neither the resolution nor
any other instrument by which a pledge is created need be filed or recorded except
in the records of the Bank. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)