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0 tracked cards Supplemental - Not MEE July 2026

A debtor signs a security agreement granting a security interest in equipment and stating that the collateral secures the current loan and all future advances by the secured party.
What is the best statement about the future-advance language?

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A security agreement may secure future advances if the agreement provides that the collateral secures those advances. A security agreement secures future advances only if the debtor signs a new agreement on the exact day of each advance. A future-advance clause is valid only in a financing statement and not in a security agreement. Future advances are outside Article 9 because they are not value.

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