---
title: O.C.G.A. § 20-3-346. Lien of pledge of revenues or assets of authority.
collection: code
id: 20-3-346
cite_as: O.C.G.A. § 20-3-346 (2025)
canonical_url: https://georgiacommons.org/code/20-3-346
md_url: https://georgiacommons.org/code/20-3-346.md
text_url: https://georgiacommons.org/code/20-3-346/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch3-18-(v17a)-2025-pdf.pdf?sfvrsn=10d12596_0#page=225
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
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publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Session of the General Assembly of Georgia
heading_path: EDUCATION / POSTSECONDARY EDUCATION / SCHOLARSHIPS, LOANS, AND GRANTS / GEORGIA STUDENT FINANCE AUTHORITY / Educational Loans Financed by Revenue Bonds
---

# O.C.G.A. § 20-3-346. Lien of pledge of revenues or assets of authority.

The pledge of any revenues or assets of the authority to the payment of the principal of or the interest on any obligations of the authority shall be valid and binding from the time when the pledge is made; and any such assets or revenues shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act. 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 such parties have notice of such pledge. Nothing in this Code section shall be construed to prohibit the authority from selling any assets subject to any pledge, except to the extent that any such sale may be restricted by a trust agreement or resolution providing for the issuance of obligations of the authority.

## History

Code 1933, § 32-3732, enacted by Ga. L. 1980, p. 835, § 3.