GroundRules
Tex. Business & Commerce Code § 9.204: AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES.
Where this section sits in the code
- BUSINESS AND COMMERCE CODE
- TITLE 1. UNIFORM COMMERCIAL CODE
- CHAPTER 9. SECURED TRANSACTIONS
- SUBCHAPTER B. EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT
(a) Except as provided in Subsection (b), 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 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.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Collected 2026-08-27T01:46:56Z. Source file · JSON