1999 Minnesota Statutes

     336.9-204 After-acquired property; future advances. 

    (1) Except as provided in subsection (2), a security 
 agreement may provide that any or all obligations covered by the 
 security agreement are to be secured by after-acquired 
 collateral. 

    (2) No security interest attaches under an after-acquired 
 property clause to consumer goods other than accessions (section 
 336.9-314) when given as additional security unless the debtor 
 acquires rights in them within ten 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 (subsection (1) of 
 section 336.9-105). 

    HIST: 1965 c 811 s 336.9-204; 1976 c 135 s 12