Kansas § 16a-3-302 (UCCC) Cross-collateral

Kansas Statutes

§ 16a-3-302 — (UCCC) Cross-collateral

Kansas·Ch. 16a CONSUMER CREDIT CODE·Art. 3 REGULATION OF AGREEMENTS AND PRACTICES

(1)In addition to contracting for a security interest pursuant to the provisions on security in sales or leases, a seller in a consumer credit sale may secure the debt arising from the sale by contracting for a security interest in other property if as a result of a prior sale the seller has an existing security interest in the other property. The seller may also contract for a security interest in the property sold in the subsequent sale as security for the previous debt.

(2)If the seller contracts for a security interest in other property pursuant to this section, the finance charge thereafter on the aggregate unpaid balances so secured may not exceed that permitted if the balances so secured were consolidated pursuant to the provisions on consolidation involving a refinancing. The sel

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(1) In addition to contracting for a security interest pursuant to the provisions on security in sales or leases, a seller in a consumer credit sale may secure the debt arising from the sale by contracting for a security interest in other property if as a result of a prior sale the seller has an existing security interest in the other property. The seller may also contract for a security interest in the property sold in the subsequent sale as security for the previous debt.
(2) If the seller contracts for a security interest in other property pursuant to this section, the finance charge thereafter on the aggregate unpaid balances so secured may not exceed that permitted if the balances so secured were consolidated pursuant to the provisions on consolidation involving a refinancing. The seller shall have a reasonable time after so contracting to make any adjustments required by this section. "Seller" in this section does not include an assignee not related to the original seller.

Kansas § 16a-3-302 ((UCCC) Cross-collateral) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.