After-Acquired Property; Future Advances

COL070307 DIV. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

(1)Except as provided in subdivision

(2)a security agreement may provide that any or all obligations covered by the security agreement are to be secured by afteracquired collateral.

(2)No security interest attaches under an afteracquired property clause to consumer goods other than accessions (Section 9314) when given as additional security unless the debtor acquires rights in them within 10 days after the secured party gives value.

(3)Obligations covered by a security agreement may include future advances or other value whether or not the advances or value are given pursuant to commitment (subdivision

(1)of Section 9105).