Tennessee § 47-9-204 - After-acquired property — Future advances.

§ 47-9-204. After-acquired property — Future advances.

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. When after-acquired property clause not effective. A security interest does not attach under a term constituting an after-acquired property clause to: 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 a commercial tort claim. 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. Acts 2000, ch. 846, § 1. Compiler's Notes. Former part 2, §§ 47-9-201 — 47-9-208 (Acts 1963, ch. 81, § 1 (9-201 — 9-208); 1985, ch. 404, §§ 11, 12; 1986, ch. 737, § 47; 1994, ch. 915, § 4; 1997, ch. 79, § 6; 1998, ch. 725, § 1) was repealed and replaced in the revision of chapter 9 of the Uniform Commercial Code by Acts 2000, ch. 846, § 1, effective July 1, 2001. Cross-References. Agricultural production input, title 43, ch. 31. Executing subsequent mortgage without disclosing previous mortgages, penalty, § 39-14-116 . Transition provisions, title 47, ch. 9, part 7. Prior Tennessee Law: §§ 64-902, 64-904, 64-906, 64-1216, 64-1802. Textbooks. Tennessee Jurisprudence, 1 Tenn. Juris., Agriculture, § 4; 6 Tenn. Juris., Commercial Law, § 101. Law Reviews. Creation, Perfection, and Enforcement of Security Interest Under the “Tennessee” Commercial Code (John A. Walker, Jr.), 48 Tenn. L. Rev. 819 (1981).