) In addition to contracting for a security interest in the goods sold, a seller of goods in a consumer credit sale may secure the debt arising from the sale by:
(a) contracting for a security interest in goods previously sold to the buyer by the seller if there is an existing security interest in the goods held either by the seller or his transferee; and
(b) contracting at the time of a subsequent sale to the buyer for a security interest in the goods sold in the subsequent sale as security for the previous debt.
(2) The security interest described in subsections (a) and (b) ceases

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14 Guam Code Ann. UNIFORM CONSUMER CREDIT CODE
CH. 2 CREDIT SALES

when the debt arising from the original sale of the collateral to the debtor has been paid.