2023 Hawaii Revised Statutes
Title 27. Uniform Commercial Code
490. Uniform Commercial Code
490:9-204 After-acquired property; future advances.
§490:9-204 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) Subject to subsection (d), 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.
(d) Nothing in subsection (b) shall prevent a security interest from attaching:
(1) To consumer goods as proceeds under section 490:9-315(a) or commingled goods under section 490:9-336(c);
(2) To a commercial tort claim as proceeds under section 490:9-315(a); or
(3) Under an after-acquired property clause to property that is proceeds of consumer goods or a commercial tort claim. [L 2000, c 241, pt of §1; am L 2023, c 132, §39]
