1. Except as provided in subsection 2, a security agreement may provide that any or all obligations covered by the security agreement are to be secured by after-acquired collateral, including after-acquired collateral which also constitutes identifiable noncash proceeds.
2. No security interest attaches under an after-acquired property clause to consumer goods other than accessions (section 554.9314) when given as additional security unless the debtor acquires rights in them within ten days after the secured party gives value.
3. Obligations covered by a security agreement may include future advances or other value whether or not the advances or value are given pursuant to commitment (section 554.9105, subsection 1).
[C58, 62, § 539.9; C66, 71, 73, 75, 77, 79, 81, § 554.9204]
Referred to in § 15E.91, 16.26, 16A.9
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