Okla. Stat. tit. 12A, § 12A-1-9-204
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-204, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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After-acquired property; future advances
Official statutory text
AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES
(a) Except as otherwise provided in subsection (b) of this
section, a security agreement may create or provide for a security
interest in after-acquired collateral.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 45
(b) Subject to subsection (d) of this section, 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 (10) 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) Subsection (b) of this section does not prevent a security
interest from attaching:
(1) to consumer goods as proceeds under subsection (a) of
Section 1-9-315 of this title or commingled goods under subsection
(c) of Section 1-9-336 of this title;
(2) to a commercial tort claim as proceeds under subsection (a)
of Section 1-9-315 of this title; or
(3) under an after-acquired property clause to property that is
proceeds of consumer goods or a commercial tort claim.
(a) Except as otherwise provided in subsection (b) of this
section, a security agreement may create or provide for a security
interest in after-acquired collateral.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 45
(b) Subject to subsection (d) of this section, 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 (10) 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) Subsection (b) of this section does not prevent a security
interest from attaching:
(1) to consumer goods as proceeds under subsection (a) of
Section 1-9-315 of this title or commingled goods under subsection
(c) of Section 1-9-336 of this title;
(2) to a commercial tort claim as proceeds under subsection (a)
of Section 1-9-315 of this title; or
(3) under an after-acquired property clause to property that is
proceeds of consumer goods or a commercial tort claim.
Status: in_force · Read it on the official government site
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