47-9204. After-acquired property; future advances
A. Except as otherwise provided in subsection B, a security agreement may create or provide for a security interest in after-acquired collateral.
B. A security interest does not attach under a term constituting an after-acquired property clause to:
1. Consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten days after the secured party gives value; or
2. A commercial tort claim.
C. A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment.
Section: Previous 47-9107 47-9108 47-9109 47-9110 47-9201 47-9202 47-9203 47-9204 47-9205 47-9206 47-9207 47-9208 47-9209 47-9210 47-9301 NextLast modified: October 13, 2016