{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/2.2-2300.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/2.2-2300.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/2.2-2300.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/2.2-2300.html"}],"law_id":352467,"edition_id":2,"section_id":352467,"structure_id":50400,"section_number":"2.2-2300","catch_line":"Pledge by Authority","history":"1984, c. 749, \u00a7 9-224; 2001, c. 844.","full_text":"Any pledge made by the Authority shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged and thereafter received by the Authority 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 Authority, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.\n\n","order_by":null,"text":{"0":{"id":1312127,"text":"Any pledge made by the Authority shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged and thereafter received by the Authority 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 Authority, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50400,"edition_id":2,"name":"Virginia Small Business Financing Authority","identifier":"7","label":"article","depth":5,"order_by":6,"parent_id":50391,"metadata":{"child_laws":38,"child_structures":0},"date_created":"2026-08-02 02:27:54","date_modified":"2026-08-02 12:27:01","permalink":{"id":1401463,"object_type":"structure","relational_id":50400,"identifier":"7","token":"2.2\/I\/D\/22\/7","url":"\/2.2\/I\/D\/22\/7\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50391,"edition_id":2,"name":"Authorities","identifier":"22","label":"chapter","depth":4,"order_by":2,"parent_id":50385,"metadata":{"child_laws":179,"child_structures":12},"date_created":"2026-08-02 02:27:40","date_modified":"2026-08-02 12:26:59","permalink":{"id":1400947,"object_type":"structure","relational_id":50391,"identifier":"22","token":"2.2\/I\/D\/22","url":"\/2.2\/I\/D\/22\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50385,"edition_id":2,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":4,"parent_id":50327,"metadata":{"child_laws":398,"child_structures":113},"date_created":"2026-08-02 02:27:36","date_modified":"2026-08-02 12:26:59","permalink":{"id":1400915,"object_type":"structure","relational_id":50385,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50327,"edition_id":2,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":50326,"metadata":{"child_laws":1084,"child_structures":230},"date_created":"2026-08-02 02:26:49","date_modified":"2026-08-02 12:26:45","permalink":{"id":1398457,"object_type":"structure","relational_id":50327,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50326,"edition_id":2,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":3,"parent_id":null,"metadata":{"child_laws":1509,"child_structures":292},"date_created":"2026-08-02 02:26:49","date_modified":"2026-08-02 12:26:45","permalink":{"id":1398455,"object_type":"structure","relational_id":50326,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":352443,"structure_id":50400,"section_number":"2.2-2279","catch_line":"Short title; definitions","url":"\/2.2-2279\/","token":"2.2\/I\/D\/22\/7\/2.2-2279","metadata":false},{"id":352445,"structure_id":50400,"section_number":"2.2-2280","catch_line":"Declaration of public purpose; Authority created","url":"\/2.2-2280\/","token":"2.2\/I\/D\/22\/7\/2.2-2280","metadata":false},{"id":352446,"structure_id":50400,"section_number":"2.2-2281","catch_line":"Construction of article","url":"\/2.2-2281\/","token":"2.2\/I\/D\/22\/7\/2.2-2281","metadata":false},{"id":352447,"structure_id":50400,"section_number":"2.2-2282","catch_line":"Board of directors; membership; terms, compensation and expenses; chairman, vice-chairman, secretary and treasurer; quorum; staff","url":"\/2.2-2282\/","token":"2.2\/I\/D\/22\/7\/2.2-2282","metadata":false},{"id":352448,"structure_id":50400,"section_number":"2.2-2283","catch_line":"Meetings of the Board","url":"\/2.2-2283\/","token":"2.2\/I\/D\/22\/7\/2.2-2283","metadata":false},{"id":352449,"structure_id":50400,"section_number":"2.2-2284","catch_line":"Executive Director; appointment; duties","url":"\/2.2-2284\/","token":"2.2\/I\/D\/22\/7\/2.2-2284","metadata":false},{"id":352450,"structure_id":50400,"section_number":"2.2-2285","catch_line":"Powers of the Authority","url":"\/2.2-2285\/","token":"2.2\/I\/D\/22\/7\/2.2-2285","metadata":false},{"id":352451,"structure_id":50400,"section_number":"2.2-2286","catch_line":"Power to condemn","url":"\/2.2-2286\/","token":"2.2\/I\/D\/22\/7\/2.2-2286","metadata":false},{"id":352452,"structure_id":50400,"section_number":"2.2-2287","catch_line":"Power to borrow money and issue bonds","url":"\/2.2-2287\/","token":"2.2\/I\/D\/22\/7\/2.2-2287","metadata":false},{"id":352453,"structure_id":50400,"section_number":"2.2-2288","catch_line":"Power to issue bonds to purchase ninety percent guaranteed portion of loans","url":"\/2.2-2288\/","token":"2.2\/I\/D\/22\/7\/2.2-2288","metadata":false},{"id":352454,"structure_id":50400,"section_number":"2.2-2289","catch_line":"Power to issue umbrella bonds","url":"\/2.2-2289\/","token":"2.2\/I\/D\/22\/7\/2.2-2289","metadata":false},{"id":352456,"structure_id":50400,"section_number":"2.2-2290","catch_line":"Insurance or guarantee fund","url":"\/2.2-2290\/","token":"2.2\/I\/D\/22\/7\/2.2-2290","metadata":false},{"id":352457,"structure_id":50400,"section_number":"2.2-2291","catch_line":"Security for bonds; fees and expenses; limitations","url":"\/2.2-2291\/","token":"2.2\/I\/D\/22\/7\/2.2-2291","metadata":false},{"id":352458,"structure_id":50400,"section_number":"2.2-2292","catch_line":"Public hearing and approval","url":"\/2.2-2292\/","token":"2.2\/I\/D\/22\/7\/2.2-2292","metadata":false},{"id":352459,"structure_id":50400,"section_number":"2.2-2293","catch_line":"Loans to lenders; conditions","url":"\/2.2-2293\/","token":"2.2\/I\/D\/22\/7\/2.2-2293","metadata":false},{"id":352460,"structure_id":50400,"section_number":"2.2-2294","catch_line":"Investment in, purchase or assignment of loans; conditions","url":"\/2.2-2294\/","token":"2.2\/I\/D\/22\/7\/2.2-2294","metadata":false},{"id":352461,"structure_id":50400,"section_number":"2.2-2295","catch_line":"Regulations of the Authority","url":"\/2.2-2295\/","token":"2.2\/I\/D\/22\/7\/2.2-2295","metadata":false},{"id":352462,"structure_id":50400,"section_number":"2.2-2296","catch_line":"How bonds paid and secured","url":"\/2.2-2296\/","token":"2.2\/I\/D\/22\/7\/2.2-2296","metadata":false},{"id":352463,"structure_id":50400,"section_number":"2.2-2297","catch_line":"Liability of Commonwealth, political subdivisions and members of Board","url":"\/2.2-2297\/","token":"2.2\/I\/D\/22\/7\/2.2-2297","metadata":false},{"id":352464,"structure_id":50400,"section_number":"2.2-2298","catch_line":"Authorization of bonds by resolution; contents of bond sale; manner","url":"\/2.2-2298\/","token":"2.2\/I\/D\/22\/7\/2.2-2298","metadata":false},{"id":352465,"structure_id":50400,"section_number":"2.2-2299","catch_line":"Resolution authorizing issuance of bonds; provisions","url":"\/2.2-2299\/","token":"2.2\/I\/D\/22\/7\/2.2-2299","metadata":false},{"id":352467,"structure_id":50400,"section_number":"2.2-2300","catch_line":"Pledge by Authority","url":"\/2.2-2300\/","token":"2.2\/I\/D\/22\/7\/2.2-2300","metadata":false},{"id":352468,"structure_id":50400,"section_number":"2.2-2301","catch_line":"Purchase of bonds of Authority","url":"\/2.2-2301\/","token":"2.2\/I\/D\/22\/7\/2.2-2301","metadata":false},{"id":352469,"structure_id":50400,"section_number":"2.2-2302","catch_line":"Bonds secured by indenture; contents; expenses; how treated","url":"\/2.2-2302\/","token":"2.2\/I\/D\/22\/7\/2.2-2302","metadata":false},{"id":352470,"structure_id":50400,"section_number":"2.2-2303","catch_line":"Signatures of prior members or officers; validity","url":"\/2.2-2303\/","token":"2.2\/I\/D\/22\/7\/2.2-2303","metadata":false},{"id":352471,"structure_id":50400,"section_number":"2.2-2304","catch_line":"Deposit of money; expenditures; security for deposits","url":"\/2.2-2304\/","token":"2.2\/I\/D\/22\/7\/2.2-2304","metadata":false},{"id":352472,"structure_id":50400,"section_number":"2.2-2305","catch_line":"Contracts with holders of bonds; how money secured","url":"\/2.2-2305\/","token":"2.2\/I\/D\/22\/7\/2.2-2305","metadata":false},{"id":352473,"structure_id":50400,"section_number":"2.2-2306","catch_line":"Bondholder protection","url":"\/2.2-2306\/","token":"2.2\/I\/D\/22\/7\/2.2-2306","metadata":false},{"id":352474,"structure_id":50400,"section_number":"2.2-2307","catch_line":"Bonds as legal investments and securities","url":"\/2.2-2307\/","token":"2.2\/I\/D\/22\/7\/2.2-2307","metadata":false},{"id":352475,"structure_id":50400,"section_number":"2.2-2308","catch_line":"Expenses of Authority; liability of Commonwealth or political subdivision prohibited","url":"\/2.2-2308\/","token":"2.2\/I\/D\/22\/7\/2.2-2308","metadata":false},{"id":352476,"structure_id":50400,"section_number":"2.2-2309","catch_line":"Creation, administration, and management of Virginia Export Fund","url":"\/2.2-2309\/","token":"2.2\/I\/D\/22\/7\/2.2-2309","metadata":false},{"id":352478,"structure_id":50400,"section_number":"2.2-2310","catch_line":"Creation, administration, and management of Virginia Small Business Growth Fund","url":"\/2.2-2310\/","token":"2.2\/I\/D\/22\/7\/2.2-2310","metadata":false},{"id":352480,"structure_id":50400,"section_number":"2.2-2311","catch_line":"Repealed","url":"\/2.2-2311\/","token":"2.2\/I\/D\/22\/7\/2.2-2311","metadata":false},{"id":352479,"structure_id":50400,"section_number":"2.2-2311.1","catch_line":"Creation, administration, and management of the Small, Women-owned, and Minority-owned Business Loan Fund","url":"\/2.2-2311.1\/","token":"2.2\/I\/D\/22\/7\/2.2-2311.1","metadata":false},{"id":352482,"structure_id":50400,"section_number":"2.2-2312","catch_line":"Annual report; audit","url":"\/2.2-2312\/","token":"2.2\/I\/D\/22\/7\/2.2-2312","metadata":false},{"id":352481,"structure_id":50400,"section_number":"2.2-2312.1","catch_line":"Risk-based review of outstanding loans; report","url":"\/2.2-2312.1\/","token":"2.2\/I\/D\/22\/7\/2.2-2312.1","metadata":false},{"id":352483,"structure_id":50400,"section_number":"2.2-2313","catch_line":"Exemption from taxation","url":"\/2.2-2313\/","token":"2.2\/I\/D\/22\/7\/2.2-2313","metadata":false},{"id":352484,"structure_id":50400,"section_number":"2.2-2314","catch_line":"Administrative Process Act not applicable","url":"\/2.2-2314\/","token":"2.2\/I\/D\/22\/7\/2.2-2314","metadata":false}],"previous_section":{"id":352465,"structure_id":50400,"section_number":"2.2-2299","catch_line":"Resolution authorizing issuance of bonds; provisions","url":"\/2.2-2299\/","token":"2.2\/I\/D\/22\/7\/2.2-2299","metadata":false},"next_section":{"id":352468,"structure_id":50400,"section_number":"2.2-2301","catch_line":"Purchase of bonds of Authority","url":"\/2.2-2301\/","token":"2.2\/I\/D\/22\/7\/2.2-2301","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2300\/","history_text":"<p>This law was first created in 1984. The record of its establishment is cataloged in chapter 749 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1984 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2001, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?011+ful+CHAP0844\">844<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1401549,"object_type":"law","relational_id":352467,"identifier":"2.2-2300","token":"2.2\/I\/D\/22\/7\/2.2-2300","url":"\/2.2-2300\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/2.2-2300\/","token":"2.2\/I\/D\/22\/7\/2.2-2300","dublin_core":{"Title":"Pledge by Authority","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2300","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Any pledge made by the <span class=\"dictionary\">Authority<\/span> shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged and thereafter received by the <span class=\"dictionary\">Authority<\/span> shall immediately be subject to the <span class=\"dictionary\">lien<\/span> of such pledge without any physical delivery thereof or further act, and the <span class=\"dictionary\">lien<\/span> of any such pledge shall be valid and binding as against all parties having claims of any kind in <span class=\"dictionary\">tort<\/span>, <span class=\"dictionary\">contract<\/span> or otherwise against the <span class=\"dictionary\">Authority<\/span>, irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge is created need be recorded.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nPLEDGE BY AUTHORITY (\u00a7 2.2-2300)\n\nAny pledge made by the Authority shall be valid and binding from the time when\nthe pledge was made. The revenues or properties so pledged and thereafter\nreceived by the Authority shall immediately be subject to the lien of such\npledge without any physical delivery thereof or further act, and the lien of any\nsuch pledge shall be valid and binding as against all parties having claims of\nany kind in tort, contract or otherwise against the Authority, irrespective of\nwhether the parties have notice thereof. Neither the resolution nor any other\ninstrument by which a pledge is created need be recorded.\n\nHISTORY: 1984, c. 749, \u00a7 9-224; 2001, c. 844.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}