Commonwealth Consolidated Acts

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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 18

General rules about security agreements and security interests

  (1)   A security agreement is effective according to its terms.

  (2)   A security agreement may provide for security interests in after - acquired property.

  (3)   A security interest in after - acquired property attaches without specific appropriation by the grantor.

  (4)   A security agreement may provide for future advances.

  (5)   A security interest is taken to secure reasonable expenses in relation to the enforcement of the security interest, unless the parties agree otherwise.


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