O.C.G.A.
O.C.G.A. § 11-1-309 (2019)
Option to accelerate at will
✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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A term providing that one party or that party’s successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure” or words of similar import shall be construed to mean that the party shall have power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of estab36 lishing lack of good faith is on the party against whom the power has been exercised.
History
Code 1981, § 11-1-309, enacted by Ga. L. 2015, p. 996, § 3A-1/SB 65.