The Florida Senate

679.204  After-acquired property; future advances.--

(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.

(2)  No security interest attaches under an after-acquired property clause to consumer goods other than accessions (s. 679.314) when given as additional security unless the debtor acquires rights in them within 10 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 (s. 679.105(1)).

History.--Art. 10, s. 1, ch. 65-254; s. 13, ch. 79-398.

Note.--s. 9-204, U.C.C.; supersedes ss. 699.04, 699.05, 700.01.