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of
the Pennsylvania Consolidated Statutes
2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 92 - Effectiveness of Security Agreement, Attachment of Security Interest and Rights of Parties to Security Agreement
Section 9204 - After-acquired property; future advances
§ 9204. After-acquired property; future advances.
(a) After-acquired collateral.--Except as otherwise provided
in subsection (b), a security agreement may create or provide
for a security interest in after-acquired collateral.
(b) When after-acquired property clause not effective.--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) Future advances and other value.--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.
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