Idaho State Statutes - Idaho Attorney Directory

(1) In addition to contracting for a
security interest pursuant to the provisions on security in sales, section
28-43-301, Idaho Code, a seller in a regulated consumer credit sale may secure
the debt arising from the sale by contracting for a security interest in other
property if, as a result of a prior sale, the seller has an existing security
interest in the other property. The seller may also contract for a security
interest in the property sold in the subsequent sale as security for the
previous debt.
(2) If the seller contracts for a security interest in other property
pursuant to this section, the finance charge thereafter on the aggregate
unpaid balances so secured may not exceed that permitted if the balances so
secured were consolidated pursuant to the provisions on finance charge on
consolidation, subsection (2) of section 28-42-304, Idaho Code. The seller has
a reasonable time after so contracting in which to make any adjustments
required by this section.

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