Title 70A - Uniform Commercial Code - Chapter 9a - Uniform Commercial Code - Secured Transactions - Part 2 - Effectiveness of Security Agreement - Attachment of Security Interest - Rights of Parties to Security Agreement - Section 204 - After-acquired pro

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Utah Code

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70A-9a-204 After-acquired property -- Future advances. (1) Except as otherwise provided in Subsection (2), 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.

Enacted by Chapter 252, 2000 General Session