Find Laws Find Lawyers Free Legal Forms USA State Laws

NEW MEXICO STATUTES AND CODES

Section 55-9-204 - After-acquired property; future advances.

55-9-204. After-acquired property; future advances.

(a)     Except as otherwise provided in Subsection (b) of this section, 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.   

New Mexico Law

New Mexico State Laws
    > New Mexico Child Support
    > New Mexico Gun Laws
    > New Mexico Statutes
New Mexico Tax
    > New Mexico State Tax
New Mexico Labor Laws
    > New Mexico Unemployment
New Mexico Agencies
    > New Mexico DMV
    > New Mexico Taxation and Revenue

New Mexico Court Map

Tips