- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 204. After-Acquired Property; Future Advances.
previous: Section 203
. Attachment and Enforceability of Security Interest; Proceeds; Supporting Obligations; Formal Requisites.
next: Section 205
. Use or Disposition of Collateral Permissible.
AS 45.29.204. After-Acquired Property; Future Advances.
- (a) Except as otherwise provided in (b) of this section, a security agreement may create or provide for a security
interest in after-acquired collateral.
- (b) 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 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 a commitment.
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