Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448

2018 Georgia Code 11-9-301 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-9-301 Case Law from Google Scholar Amendments to OCGA 11-9-301

TITLE 11 COMMERCIAL CODE

Section 9. Secured Transactions, 11-9-101 through 11-9-809.

ARTICLE 9 SECURED TRANSACTIONS

PART 1 LAW GOVERNING PERFECTION AND PRIORITY

11-9-301. Law governing perfection and priority of security interests.

Except as otherwise provided in Code Sections 11-9-303 through 11-9-306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

  1. Except as otherwise provided in this Code section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral;
  2. While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral;
  3. Except as otherwise provided in paragraph (4) of this Code section, while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:
    1. Perfection of a security interest in the goods by filing a fixture filing;
    2. Perfection of a security interest in timber to be cut;
    3. Perfection of a security interest in crops; and
    4. The effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral; and
  4. The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.

(Code 1981, §11-9-301, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2010, p. 481, § 2-23/HB 451.)

The 2010 amendment, effective May 27, 2010, inserted "tangible" in the middle of the introductory language of paragraph (3). See the Editor's notes for applicability.

Editor's notes.

- Ga. L. 2010, p. 481, § 3-1, not codified by the General Assembly, provides that: "This Act applies to a document of title that is issued or a bailment that arises on or after the effective date of this Act. This Act does not apply to a document of title that is issued or a bailment that arises before the effective date of this Act even if the document of title or bailment would be subject to this Act if the document of title had been issued or bailment had arisen on or after the effective date of this Act. This Act does not apply to a right of action that has accrued before the effective date of this Act." This Act became effective May 27, 2010.

Ga. L. 2010, p. 481, § 3-2, not codified by the General Assembly, provides that: "A document of title issued or a bailment that arises before the effective date of this Act and the rights, documents, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this Act as if such amendment or repeal had not occurred and may be terminated, completed, consummated, or enforced under that statute or other rule." This Act became effective May 27, 2010.

JUDICIAL DECISIONS

Editor's notes.

- In the light of the similarity of the 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.

Failure to perfect after relocation of debtor.

- Since the security interest was not perfected upon transfer of debtor's corporate offices to Georgia, the security interest was deemed unperfected upon the expiration of four months after the relocation to Georgia. United States v. Specialty Contracting & Supply, Inc., 140 Bankr. 922 (Bankr. N.D. Ga. 1992) (decided under former Code Section 11-9-103).

Transfer of collateral.

- Former Code Section 11-9-407(7), not former paragraph (3)(e) of this Code section was applicable when a debtor had transferred collateral encumbered by a security interest to another debtor. NCNB Nat'l Bank v. Major Leasing, Inc., 140 Bankr. 826 (Bankr. N.D. Ga. 1991) (decided under former Code Section 11-9-103).

RESEARCH REFERENCES

C.J.S.

- 79 C.J.S., Secured Transactions, § 88 et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-301.

Cases Citing O.C.G.A. § 11-9-301

Total Results: 2  |  Sort by: Relevance  |  Newest First

Copy

Crossroads Bank of Georgia v. Corim, Inc., 418 S.E.2d 601 (Ga. 1992).

Cited 6 times | Published | Supreme Court of Georgia | Jul 16, 1992 | 262 Ga. 364, 18 U.C.C. Rep. Serv. 2d (West) 643, 92 Fulton County D. Rep. 1414

...judgment is duly recorded in the place designated by statute applicable thereto, and if record thereof is made prior to the perfection of the subject security interest, and if the subject security interest is not a purchase money security interest entitled to priority under subsection (2) of Code Section 11-9-301. OCGA § 11-9-301 (2) provides: If the secured party files with respect to a purchase money security interest before or within 15 days after the debtor receives *365 possession of the collateral, he takes priority over the rights of ... a lien creditor which arise between the time the security interest attaches and the time of filing. The Court of Appeals determined that the reference to OCGA § 11-9-301 (2) in § 11-9-310 (d) incorporated the priority scheme of § 11-9-301 (2) into § 11-9-310 (d), thereby giving priority to a judgment lien that pre-dated the debtor's acquisition of the collateral; [2] appellant and amici curiae assert that the reference merely describes the type of purchase money secured creditor who has priority over the judgment lien....
...lien. Ga. L. 1963, pp. 188, 199. [3] After the 1963 version of § 9-310 was seen as providing priority to unperfected and untimely perfected purchase money security interests, § 9-310 (d) was amended to its present form, including the reference to § 11-9-301 (2). Ga. L. 1978, pp. 1081, 1111. The Georgia Revisers' Comments noted that the amendment specified that a purchase money security interest would have priority over a prior judgment lien only to the *366 extent permitted by § 11-9-301 (2), which established a 15-day grace period for filing the purchase money security interest....
...If a judgment lienholder becomes a lien creditor by merely obtaining a judgment and recording it on the general execution docket, then § 11-9-310 (d), which establishes a priority scheme for judgment liens, is superfluous because all judgment lienholders would be lien creditors, who have a priority scheme set forth in § 11-9-301 (2)....
...Realization of the latter goal has come about, insofar as the priority scheme is concerned, by adopting and modifying a nonuniform § 11-9-310 in order to accommodate Georgia's somewhat unique "floating" judgment lien. We conclude that, by referring to § 11-9-301 (2) in the 1978 version of OCGA § 11-9-310 (d), the legislature intended to make judgment liens subordinate to purchase money security interests perfected within the grace period contained in § 11-9-301 (2)....
...o the rendition and execution of the judgment against him. OCGA § 9-12-80; Kollock v. Jackson, 5 Ga. 153 (2) (1848). [3] The nonuniform version of § 11-9-310 gave "unconditional priority" to a perfected security interest over a judgment lien. OCGA § 11-9-301, Ga. Revisers' Comments, para. 3. [4] A "lien creditor" is statutorily defined as "a creditor who has acquired a lien on the property involved by attachment, levy or the like.... " OCGA § 11-9-301 (3)....
Copy

First Nat'l v. Blackburn, 254 Ga. 379 (Ga. 1985).

Cited 3 times | Published | Supreme Court of Georgia | May 10, 1985 | 329 S.E.2d 897

...a special lien in the amount of $15,000, by way of equitable division of marital property. See Stokes v. Stokes, 246 Ga. 765 (273 SE2d 169) (1980). Thus, the wife’s special lien is superior to any interest of the bank in the marital property. OCGA § 11-9-301. Judgment affirmed. All the Justices concur. *382Decided May 10, 1985 — Rehearing denied May 28, 1985. Glover & Davis, J....