Chapter inapplicable to automobile dealers.

- Effect of Ga. L. 1962, p. 79 § 17 (see now O.C.G.A. § 40-3-58) is that the only way to create security interests in automobiles is by the method provided in Ga. L. 1961, p. 68 (see now O.C.G.A. Ch. 3, T. 40), which does not apply to or affect dealers holding automobiles for sale. Sun Ins. Office, Ltd. v. First Nat'l Bank & Trust Co., 113 Ga. App. 782, 149 S.E.2d 753, rev'd on other grounds, 222 Ga. 559, 150 S.E.2d 803 (1966).

Ga. L. 1961, p. 68 (see now O.C.G.A. Ch. 3, T. 40) is notice statute, having the effect, when complied with, of imputing constructive notice to all who may subsequently acquire an interest in or lien against the property. Franklin Fin. Co. v. Strother Ford, Inc., 110 Ga. App. 365, 138 S.E.2d 679 (1964).

Actual notice sufficient.

- Actual notice of the prior lien to one who subsequently purchases or acquires a security interest is sufficient to preserve the priority of the lien or of the title. Franklin Fin. Co. v. Strother Ford, Inc., 110 Ga. App. 365, 138 S.E.2d 679 (1964).

After-acquired parts and repairs.

- Lender's properly perfected security interest in a vehicle extended to after-acquired parts and repairs, and was superior to a repair shop's mechanic's lien and claim for unjust enrichment regarding parts affixed to the vehicle. Barnes v. GMAC, 191 Ga. App. 201, 381 S.E.2d 146 (1989).

Cited in Maley v. National Acceptance Co., 250 F. Supp. 841 (N.D. Ga. 1966); Wooden v. Michigan Nat'l Bank, 117 Ga. App. 852, 162 S.E.2d 222 (1968); Rockwin Corp. v. Kincaid, 124 Ga. App. 570, 184 S.E.2d 509 (1971); Gwinnett Sales & Serv. v. Trust Co., 130 Ga. App. 31, 202 S.E.2d 255 (1973); Roush v. Dan Vaden Chevrolet, Inc., 155 Ga. App. 372, 270 S.E.2d 902 (1980); Flatau v. Bank of Banks County (In re Stewart), 9 Bankr. 32 (Bankr. M.D. Ga. 1980).

Used car dealers.

- In order to perfect a dealer's security interest in a vehicle, a used car dealer must follow the requirements specified in O.C.G.A. Ch. 3, T. 40; the method for perfecting a security interest as described in those provisions is exclusive, and such security interests in motor vehicles as to which certificates of title must be obtained are exempt from the provisions of law which otherwise require or relate to the recording or filing of security interests. 1990 Op. Att'y Gen. No. 90-8.

Used car dealer who has a security interest in a vehicle may exercise all rights afforded to the dealer by the security agreement, including repossession, despite not having perfected the dealer's security interest. 1990 Op. Att'y Gen. No. 90-8.

Am. Jur. 2d.

- 7A Am. Jur. 2d, Automobiles and Highway Traffic, § 35.

C.J.S.

- 60 C.J.S., Motor Vehicles, §§ 41, 42. 72 C.J.S., Pledges, §§ 43, 44.

U.L.A.

- Uniform Motor Vehicle Certificate of Title and Anti-Theft Act (U.L.A.) § 25.