Ark. Code Ann. § 4-9-204

After-acquired property — Future advances

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Applied in 3 court decisions — leading case 86 Ark. App. 213 - First National Bank of Izard County v. Garner (2004)

Most recently applied in In re Heath (July 2012)

Acts 2001, No. 1439, § 1.

How often courts cite this section

citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

(1) Except as otherwise provided in subsection (b), 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: 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

(3) a commercial tort claim.

(4) 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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.