ADVOKS GLOBAL · KENYA
Movable Property Security Rights Act
9. Right to proceeds
Edition: 2022-12-31 · In force
9. Right to proceeds
(1)A security right in an asset extends to its identifiable proceeds.(2)Where proceeds in the form of funds credited to a deposit account or money become commingled assets—(a)the security right extends to the commingled assets;(b)the security right in the commingled assets is limited to the amount of the proceeds immediately before they became commingled assets; and(c)if at any time after the commingling, the balance credited to the deposit account or amount of money is less than the amount of the proceeds immediately before they became commingled assets, the obligation secured by the security right that is enforceable against the commingled assets is limited to the lowest amount between the time when the proceeds were commingled and the time the security right in the proceeds is claimed.