(A) Except as provided in division (B) of this section, 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 accessions 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.
Effective Date: 07-01-2001
Section: Previous 1309.107 1309.108 1309.109 1309.110 1309.201 1309.202 1309.203 1309.204 1309.205 1309.206 1309.207 1309.208 1309.209 1309.210 1309.301 NextLast modified: October 10, 2016