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MICHIGAN NAT. BANK v. FLOWERS MOBILE HOMES SALES, INC.

No. 758SC171.

217 S.E.2d 108 (1975)

26 N.C. App. 690

MICHIGAN NATIONAL BANK v. FLOWERS MOBILE HOMES SALES, INC., and Armor Mobile Homes Manufacturing Corporation of Georgia.

Court of Appeals of North Carolina.

August 6, 1975.

Attorney(s) appearing for the Case

Perry, Perry & Perry by Warren S. Perry, Kinston, for plaintiff appellant.

White, Allen, Hooten & Hines, P. A. by Thomas J. White, III, Kinston, for defendant, Armor Mobile Homes Mfg. Corp., appellee.

PARKER, Judge.

G.S. § 25-9-306(2) provides that when property subject to a security interest is sold by the debtor, the security interest "continues in any identifiable proceeds including collections received by the debtor." Under this statutory provision there can be no question but that plaintiff obtained a valid security interest in the $6,400.00 which Flowers received from the sale of the Madison Mobile Home at the time Flowers first collected that amount...

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