O.C.G.A.
O.C.G.A.

O.C.G.A. § 11-9-309 (2019)

Security interest perfected upon attachment

✓ 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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The following security interests are perfected when they attach:

(1) A purchase money security interest in consumer goods, except as otherwise provided in subsection (b) of Code Section 11-9-311 with respect to consumer goods that are subject to a statute or treaty described in subsection (a) of Code Section 11-9-311;

(2) An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles;

(3) A sale of a payment intangible;

(4) A sale of a promissory note;

(5) A security interest created by the assignment of a health care insurance receivable to the provider of the health care goods or services;

(6) A security interest arising under Code Section 11-2-401 or 11-2-505, subsection (3) of Code Section 11-2-711, or subsection (5) of Code Section 11-2A-508, until the debtor obtains possession of the collateral;

(7) A security interest of a collecting bank arising under Code Section 11-4-210;

(8) A security interest of an issuer or nominated person arising under Code Section 11-5-118;

(9) A security interest arising in the delivery of a financial asset under subsection (c) of Code Section 11-9-206;

(10) A security interest in investment property created by a broker or securities intermediary;

(11) A security interest in a commodity contract or a commodity account created by a commodity intermediary;

(12) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and

(13) A security interest created by an assignment of a beneficial interest in a decedent’s estate.

History

Code 1981, § 11-9-309, enacted by Ga. L. 2001, p. 362, § 1.

Annotations

Law reviews. For annual survey on commercial law, see 53 Mercer L. Rev. 153 (2001).

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 9309. ALR. Creation and perfection of security in-

terests in insurance proceeds under Article 9 of Uniform Commercial Code, 47 A.L.R.6th 347.

Notes of Decisions
Cited in 4 cases (1 in the last 5 years), 2000–2022 · leading case: In Re Green, 348 B.R. 601 (Bankr. M.D. Ga. 2006).
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In Re Green, 348 B.R. 601 (Bankr. M.D. Ga. 2006). · cites it 2× “O.C.G.A. § 11-9-309(1) (2002). A security interest in an automobile, on the other hand, must be perfected by noting the lien on the vehicle’s title.”
Provident Bank v. Morequity, Inc., 585 S.E.2d 625 (Ga. Ct. App. 2003). · cites it 2× “Although under the UCC a security interest may be perfected (see generally former OCGA § 11-9-303), nothing in the Code “limits the rights of a holder in due course of a negotiable instrument .”
Agricredit Acceptance, LLC v. Hendrix, 82 F. Supp. 2d 1379 (S.D. Ga. 2000). · cites it 8× “take priority over an earlier security interest even though perfected,” O.C.G.A. § 11-9-309. A warehouse receipt is a negotiable document of title if it provides by its terms that the goods are to be delivered to bearer or to the order of a named person.”
Asset Recovery Assocs., LLC v. Whole Foods Mkt. Grp., Inc. (N.D. Ga. 2022). · cites it 2× “) Moreover, it grants the Plaintiff “all rights and powers available under Georgia law, including O.C.G.A. § 11-9-309 and .” ( at 5 (emphasis added).”
— 11-9-309(1) — 1 case
In Re Green, 348 B.R. 601 (Bankr. M.D. Ga. 2006). “O.C.G.A. § 11-9-309(1) (2002). A security interest in an automobile, on the other hand, must be perfected by noting the lien on the vehicle’s title.”
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.