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MARVIN MANDEL, Governor
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(b) In fish until caught, in oil, gas or
minerals until they are extracted, in timber until it is
cut;
(c) In a contract right until the contract
has been made;
(d) In an account until it comes into
existence.
(3) Except as provided in subsection (4) a security
agreement may provide that collateral, whenever acquired,
shall secure all obligations covered by the security
agreement.
(4) Mo security interest attaches under an
after—acquired property clause
(a) To crops which become such more than one
year after the security agreement is executed except that
a security interest in crops which is given in
conjunction with a lease or a land purchase or
improvement transaction evidenced by a contract, mortgage
or deed of trust may if so agreed attach to crops to be
grown on the land concerned during the period of such
real estate transaction;
(b) To consumer goods other than accessions
(§ 9—314) when given as additional security unless the
debtor acquires rights in them within ten days after the
secured party gives value.
(5) 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.
9—205. Use or disposition of collateral without
accounting permissible.
A security interest is not invalid or fraudulent
against creditors by reason of liberty in the debtor to
use, commingle or dispose of all or part of the
collateral (including returned or repossessed goods) or
to collect or compromise accounts, contract rights or
chattel paper, or to accept the return of goods or make
repossessions, or to use, commingle or dispose of
proceeds, or by reason of the failure of the secured
party to require the debtor to account for proceeds or
replace collateral. This section does not relax the
requirements of possession where perfection of a security
interest depends upon possession of the collateral by the
secured party or by a bailee.
9—206. Agreement not to assert defenses against
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