Wis. Stat. § 409.204

After-acquired property; future advances

Applied in 12 court decisions — leading case Gifford Thorp Finance Corporation

Most recently applied in Attorney's Title Guaranty Fund, Inc. v. Town Bank (July 2014)

2001 a. 10

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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) AFTER-ACQUIRED COLLATERAL. Except as otherwise provided in sub. (2), a security agreement may create or provide for a security interest in after-acquired collateral.

(2) WHEN AFTER-ACQUIRED PROPERTY CLAUSE NOT EFFECTIVE. 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) 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.

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