14 GCA § 2407: Restriction on Security in Sales or Leases.

(1) With respect to a consumer credit sale, a seller may take a security interest in the goods sold, in goods installed in or affixed to the goods sold, and in property to which the goods are affixed. The seller may also take a security interest in property of the buyer to secure the debt arising from a consumer credit sale primarily for an agricultural purpose. Except as provided with respect to cross-collateral (§ 2408), a seller may not otherwise take a security interest in property of the buyer to secure the debt arising from a consumer credit sale unless the sale involves maintenance, repair or improvement of the buyer's property. In this case a seller may take a security interest in the property affected, if in the case of a security interest in real property the debt secured is Five Hundred Dollars ($500.00), or more, or, in the case of a security interest in personal property the debt secured is One Hundred Fifty Dollars ($150.00) or more.

(2) With respect to a consumer lease, a lessor may not take a security interest in property of the lessee to secure the debt arising from the lease.

(3) A security interest taken in violation of this section is void.

(4) The amounts of Five Hundred Dollars ($500.00) and One Hundred Fifty Dollars ($150.00) in subsection (1) are subject to change pursuant to the provisions on adjustment of dollar amounts (§ 1106).