In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Secured Transactions Act · 2022 Revised Edition · Part · Security Interests in Personal Property
Secured Transactions Act · 2022 Revised Edition · Part · Security Interests in Personal Property
Official textFrom Attorney General's Chambers, unchanged
A security agreement may provide for security interests in after-acquired property which shall be created without written consent by the debtor, unless the after-acquired property is consumer goods.
security agreement
“security agreement” means an agreement between the debtor and secured party that creates or provides for a security interest;
after-acquired property
“after-acquired property” means personal property that is acquired by a debtor after the security agreement is made;
consumer goods
“consumer goods” means goods that are used or acquired for use primarily for personal, domestic or household purpose;
security agreement
“security agreement” means an agreement between the debtor and secured party that creates or provides for a security interest;
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