Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
Section 9-204 - After Acquired Property; Future Advances — Maryland Law | CourtGPT
  1. Home/
  2. Laws/
  3. Maryland/
  4. Commercial Law - Title 1 - General Provisions/
  5. Title 9 - Secured Transactions/
  6. Subtitle 2 - Effectiveness of Security Agreement; Attachment of Security Agreement; Rights of Parties to Security Agreement/
  7. Section 9-204 - After Acquired Property; Future Advances
Maryland Legal Code

Section 9-204 - After Acquired Property; Future Advances

Ask AI about this
(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 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.