Oklahoma § 12A-1-9-204 After-acquired property; future advances.

Oklahoma Statutes

§ 12A-1-9-204 — After-acquired property; future advances.

Oklahoma·Title 12A Uniform Commercial Code

AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES (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)Subject to subsection (d) of this section, 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 ar

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AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES (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) Subject to subsection (d) of this section, 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. (d) Subsection (b) of this section does not prevent a security interest from attaching: (1) to consumer goods as proceeds under subsection (a) of Section 1-9-315 of this title or commingled goods under subsection (c) of Section 1-9-336 of this title; (2) to a commercial tort claim as proceeds under subsection (a) of Section 1-9-315 of this title; or (3) under an after-acquired property clause to property that is proceeds of consumer goods or a commercial tort claim.

Oklahoma § 12A-1-9-204 (After-acquired property; future advances.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.