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2019 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 079 - Secured Transactions
Section 79.0204 - UCC 9-204. After-acquired property; future advances.
Universal Citation: OR Rev Stat § 79.0204 (2019)
(1) Except as otherwise provided in subsection (2) of this section, a security agreement may create or provide for a security interest in after-acquired collateral.
(2) A security interest does not attach under a term constituting an after-acquired property clause to:
(a) 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
(b) A commercial tort claim.
(3) 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. [2001 c.445 §14]
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