New Hampshire Revised Statutes 228-A:5 – Pledge of Revenues or Other Property
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Terms Used In New Hampshire Revised Statutes 228-A:5
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
Any pledge of revenues or other property made by the state under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of N.H. Rev. Stat. Chapter 382-A and other laws from the time when the pledge is made; the revenues, moneys, rights, and proceeds so pledged and then held or thereafter acquired or received by the state shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act; and the lien of such pledge shall be valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the state, irrespective of whether such parties have notice thereof. No such revenues may be used in a manner inconsistent with the pledge. Neither the resolution, any trust or security agreement, nor any other agreement by which a pledge is created need be filed or recorded except in the records of the secretary of state and no filing need be made under RSA 382-A.