<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>352467</law_id><section_number>2.2-2300</section_number><catch_line>Pledge by Authority</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="3" identifier="2.2">Administration of Government</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Organization of State Government</unit><unit label="part" level="3" order_by="4" identifier="D">State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies</unit><unit label="chapter" level="4" order_by="2" identifier="22">Authorities</unit><unit label="article" level="5" order_by="6" identifier="7">Virginia Small Business Financing Authority</unit></structure><text>
						<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></text><history>1984, c. 749, &#xA7; 9-224; 2001, c. 844.</history><metadata></metadata></law>
