S.C. Code Ann. § 36-9-204

After-acquired property; future advances

Known as the Uniform Commercial Code

The act spans §§ 36–36 (519 sections).

Applied in 7 court decisions — leading case 450 F. Supp. 900 - Sanders v. Auto Associates, Inc. (1978)

Most recently applied in 738 F. Supp. 174 - Powers v. United States, Farmers Home Administration (April 1990)

1962 Code SECTION 10.9-204; 1966 (54) 2716; 1988 Act No. 494, SECTION 5; 2001 Act No; 67, SECTION 12.

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.

(a) Except as otherwise provided in subsection (b), 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 ten 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 commitment.

Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.