Skip to main content
Find a Lawyer

District of Columbia Code Division V. Local Business Affairs § 28:9-204. After-acquired property; future advances.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as otherwise provided in subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral.

(b) Subject to subsection (b-1) of this section, 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 10 days after the secured party gives value; or

(2) A commercial tort claim.

(b-1) Subsection (b) of this section does not prevent a security interest from attaching:

(1) To consumer goods as proceeds under § 28:9-315(a) or commingled goods under § 28:9-336(c);

(2) To a commercial tort claim as proceeds under § 28:9-315(a); or

(3) Under an after-acquired property clause to property that is proceeds of consumer goods or 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.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 28:9-204. After-acquired property; future advances. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-28-9-204/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard