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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) With respect to a consumer credit sale, a seller may take a security interest in the property sold. In addition, a seller may take a security interest in goods upon which services are performed or in which goods sold are installed or to which they are annexed or in land to which the goods are affixed or which is maintained, repaired or improved as a result of the sale of the goods or services, if in the case of a security interest in land the debt secured is $3,000 or more, or, in the case of a security interest in goods the debt secured is $900 or more. Except as provided with respect to cross-collateral, a seller may not otherwise take a security interest in property of the buyer to secure the debt arising from a consumer credit sale.
(2) With respect to a consumer lease, a lessor may not take a security interest in property of the lessee to secure the amount payable arising from the lease.
(3) A security interest taken in violation of this section shall be void.
Cite this article: FindLaw.com - Kansas Statutes Chapter 16A. Consumer Credit Code § 16a-3-301. (UCCC) Security in sales or leases - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-16a-consumer-credit-code/ks-st-sect-16a-3-301/
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.
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