O.C.G.A.

O.C.G.A. § 11-9-201 (2019)

General effectiveness of security agreement

✓ 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) General effectiveness. Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers and is subject to Chapter 3 of Title 7; Chapter 4 of Title 7; and Article 1 of Chapter 1 of Title 10. (c) Other applicable law controls. In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b) of this Code section, the rule of law, statute, or regulation controls.

Failure to comply with a statute or regulation described in subsection (b) of this Code section has only the effect the statute or regulation specifies. (d) Further deference to other applicable law. This article does not: (1) Validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b) of this Code section; or (2) Extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.

History

Code 1981, § 11-9-201, enacted by Ga. L. 2001, p. 362, § 1.

Annotations

JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the statutory provisions, decisions under former Article 9 are included in the annotations for this Code section. For a table of comparable provisions, see the table at the beginning of the Article. Effect of section on priority. - The effect of this section is to give the UCC

Article 9 secured party, upon a debtor’s default, priority over “anyone, anywhere, anyhow” except as otherwise provided by the remaining Code priority rules. Continental Am. Life Ins. Co. v. Griffin, 251 Ga. 412, 306 S.E.2d 285, 1983 Ga. LEXIS 832 (1983) (decided under former Code Section 11-9-201).

RESEARCH REFERENCES Am. Jur. 2d. 68A Am. Jur. 2d, Secured Transactions, § 155 et seq. C.J.S. 72 C.J.S., Pledges, §§ 19, 31. U.L.A. Uniform Commercial Code (U.L.A.) § 9201. ALR. Provision in land contract against removal of buildings as affecting rights of third person under chattel mortgage or conditional sale, 30 A.L.R. 542.

Rights and remedies of one to whom bank agrees to furnish collateral security, where bank fails before doing so, 122 A.L.R. 266. Conditional sale as affecting provision in insurance policy against change of title, interest, or possession, 133 A.L.R. 785. Usury as affecting conditional sale contract, 152 A.L.R. 598. Effect of UCC Article 9 upon conflict, as to funds in debtor’s bank account, between secured creditor and bank claiming right of setoff, 3 A.L.R.4th 998.

Notes of Decisions

Cited in 9 cases (2 in the last 5 years), 1983–2023 · leading case: Cont'l Am. Life Ins. v. Griffin, 306 S.E.2d 285 (Ga. 1983).

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Cont'l Am. Life Ins. v. Griffin, 306 S.E.2d 285 (Ga. 1983). · cites it 4× “Nonetheless, underlying the complex Code priority provisions is the keystone rule of OCGA § 11-9-201 (Code Ann. § 109A-9—201): “Except as otherwise provided by this title a security agreement is effective according to its terms between the parties, against purchasers of the…”

MALAGA Mgmt. Co. v. John Deere Co., 431 S.E.2d 746 (Ga. Ct. App. 1993). · cites it 2× “OCGA §§ 11-9-201; 11-9-203; 11-9-301; see OCGA § 11-9-306 (2); see generally Babson &c.”

McAllister Towing v. Ambassador Factors, Div. Fleet Factors Corp. (In Re Topgallant Lines, Inc.), 154 B.R. 368 (S.D. Ga. 1993). · cites it 3× “O.C.G.A. § 11-9-201 concerns the general validity of security agreements; it is not one of the specific priority statutes.”

ITT Fin. Servs. v. Gibson, 372 S.E.2d 468 (Ga. Ct. App. 1988). · cites it 4× “A security agreement is required to create a security interest (OCGA § 11-9-105 (1)), and it is not perfected until it meets the requirements of the Uniform Commercial Code (OCGA § 11-9-201), which includes the necessity of a signed "security agreement which contains a…”

Crossroads Bank of Georgia v. Corim, Inc., 418 S.E.2d 601 (Ga. 1992). · cites it 2× “The Court of Appeals determined that the preference for purchase money security interests reflected in the Uniform Commercial Code (OCGA § 11-9-201 et seq.) was not applicable in this case and held that Corim’s 1986 properly recorded judgment lien against the debtor had priority…”

Warren S. Griffin v. Cont'l Am. Life Ins. Co., 722 F.2d 671 (11th Cir. 1984). “Nonetheless, underlying the complex Code priority provisions is the keystone rule of OCGA § 11-9-201: “Except as otherwise provided by this title a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against…”

Med-care Solutions, LLC v. Bey & Assocs., LLC (Ga. Ct. App. 2022). · cites it 2× “10 OCGA § 11-9-201 (a). 11 (Punctuation omitted.”

Smithyman v. Crawford (Bankr. N.D. Ga. 2023). · cites it 2× “” O.C.G.A. § 11-9-201(a). “A security interest attaches to collateral when it becomes enforceable against the debtor[.”

Ray's Mobile Home Repair Serv., Inc. v. Presidential Fin. Corp., 386 S.E.2d 48 (Ga. Ct. App. 1989). · cites it 2× “OCGA § 11-9-201; see Continental American Life Ins.”

— 11-9-201(a) — 1 case

Smithyman v. Crawford (Bankr. N.D. Ga. 2023). “” O.C.G.A. § 11-9-201(a). “A security interest attaches to collateral when it becomes enforceable against the debtor[.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.