Idaho § 28-9-204 AFTER-ACQUIRED PROPERTY — FUTURE ADVANCES

Idaho Statutes

§ 28-9-204 — AFTER-ACQUIRED PROPERTY — FUTURE ADVANCES

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 2. EFFECTIVENESS OF SECURITY AGREEMENT — ATTACHMENT OF SECURITY INTEREST — RIGHTS OF PARTIES TO SECURITY AGREEMENT·Ch. 9 SECURED TRANSACTIONS

(a)Except as otherwise provided in subsection (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 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.

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(a) Except as otherwise provided in subsection (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 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.

Idaho § 28-9-204 (AFTER-ACQUIRED PROPERTY — FUTURE ADVANCES) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.