2016 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
§ 47-9204 After-acquired property; future advances
47-9204. After-acquired property; future advances
A. Except as otherwise 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 ten 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.
Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
