O.C.G.A.

O.C.G.A. § 11-9-331 (2019)

Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Article 8 of this title

✓ 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) Rights under Articles 3, 7, and 8 of this title not limited. This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Articles 3, 7, and 8 of this title.

(b) Protection under Article 8 of this title. This article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Article 8 of this title.

(c) Filing not notice. Filing under this article does not constitute notice of a claim or defense to the holders or purchasers or persons described in subsections (a) and (b) of this Code section.

History

Code 1981, § 11-9-331, enacted by Ga. L. 2001, p. 362, § 1.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 68A Am. Jur. 2d, Secured Transactions, §§ 49, 55, 109, 225-230, 269, 444-455, 550, 895-909. C.J.S. 6A C.J.S., Assignments, § 101. 72 C.J.S., Pledges, § 43.

U.L.A. Uniform Commercial Code (U.L.A.) § 9331. ALR. Rights as between holder of “trust receipt” and purchaser of goods from one who gave it, 31 A.L.R. 937.