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Section 4-9-204 - After-acquired property - Future advances — Arkansas Law | CourtGPT
  1. Home/
  2. Laws/
  3. Arkansas/
  4. Title 4 - Business and Commercial Law (§§ 4-1-101 — 4-119-105)/
  5. Subtitle 1 - Uniform Commercial Code/
  6. Chapter 9 - Secured Transactions/
  7. Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement 1 - Effectiveness and Attachment (§§ 4-9-201 — 4-9-206)/
  8. 1 - 101 — 4-119-105)/
  9. Section 4-9-204 - After-acquired property - Future advances
Arkansas Legal Code
(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 (10) 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.Acts 2001, No. 1439, § 1.

Section 4-9-204 - After-acquired property - Future advances

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