Home Table of Contents

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

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement (Refs & Annos)
12A Okl.St.Ann. § 1-9-204
§ 1-9-204. After-acquired property; future advances
Currentness
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) 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.

Credits

Laws 2000, c. 371, § 14, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-204, OK ST T. 12A § 1-9-204
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document