TITLE 11 COMMERCIAL CODE

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

ARTICLE 9 SECURED TRANSACTIONS

PART 2 NONCOMPLIANCE WITH ARTICLE

11-9-709. Priority.

1. Law governing priority. This article determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former Article 9 of this title determines priority.
2. Priority if security interest becomes enforceable under Code Section 11-9-203. For purposes of subsection (a) of Code Section 11-9-322, the priority of a security interest that becomes enforceable under Code Section 11-9-203 dates from July 1, 2001, if the security interest is perfected under this article by the filing of a financing statement before July 1, 2001, which would not have been effective to perfect the security interest under former Article 9 of this title. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.

(Code 1981, §11-9-709, enacted by Ga. L. 2001, p. 362, § 1.)