16a-3-301. (UCCC) Security in sales or leases.
16a-3-301
16a-3-301. (UCCC) Security in sales or
leases.
(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
(K.S.A. 16a-3-302, and amendments thereto) 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 debt arising from the lease.
(3) A security interest taken in violation of this section is void.
History: L. 1973, ch. 85, § 47; L. 1981, ch. 93, § 7;
L. 1999, ch. 107, § 22; July 1.