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12-90
12.90 PLEDGES -- CONSTRUCTION.
1. It is the intention of the general assembly that a pledge made
in respect of bonds shall be valid and binding from the time the
pledge is made, that the money or property so pledged and received
after the pledge by the treasurer of state shall immediately be
subject to the lien of the pledge without physical delivery or
further act, and that the lien of the pledge shall be valid and
binding as against all parties having claims of any kind in tort,
contract, or otherwise against the treasurer of state whether or not
the parties have notice of the lien.
2. Sections 12.87 through 12.89, and this section, being
necessary for the welfare of this state and its inhabitants, shall be
liberally construed to effect its purposes. Section History: Recent Form
2009 Acts, ch 173, §4, 36
Referred to in § 12.87
