2018 Georgia Code Annotated

TITLE 11 COMMERCIAL CODE

Art.

1. General Provisions, 11-1-101 through 11-1-209.
2. Sales, 11-2-101 through 11-2-725.
2A. Leases, 11-2A-101 through 11-2A-532.
3. Negotiable Instruments, 11-3-101 through 11-3-605.
4. Bank Deposits and Collections, 11-4-101 through 11-4-504.
4A. Funds Transfers, 11-4A-101 through 11-4A-507.
5. Letters of Credit, 11-5-101 through 11-5-118.
6. Bulk Transfers, 11-6-101 through 11-6-111.
7. Warehouse Receipts, Bills of Lading, and Other Documents of Title, 11-7-101 through 11-7-603.
8. Investment Securities, 11-8-101 through 11-8-603.
9. Secured Transactions, 11-9-101 through 11-9-809.
10. Effective Date and Repealer, 11-10-101 through 11-10-105.
11. Revised Article 9 and Conforming Amendments to Other Articles, 11-11-101 through 11-11-104.
12. Revisions to Article 9 Filing, 11-12-101 through 11-12-102.

Chapter 1. General Provisions, 11-1-101 through 11-1-209.

Part 1 General Provisions.

Part 2 General Definitions and Principles of Interpretation.

Part 3 Territorial Applicability and General Rules.

Chapter 2. Sales, 11-2-101 through 11-2-725.

Part 1 Short Title, General Construction, and Subject Matter.

Part 2 Form, Formation, and Readjustment of Contract.

Part 3 General Obligation and Construction of Contract.

Part 4 Title, Creditors, and Good Faith Purchasers.

Part 5 Performance.

Part 6 Breach, Repudiation, and Excuse.

Part 7 Remedies.

Part 4 Performance of Lease Contract:

Repudiated, Substituted and Excused.

11-2A-401. Insecurity: Adequate assurance of performance.
11-2A-402. Anticipatory repudiation.
11-2A-403. Retraction of anticipatory repudiation.
11-2A-404. Substituted performance.
11-2A-405. Excused performance.
11-2A-406. Procedure on excused performance.
11-2A-407. Irrevocable promises: Finance leases.

Part 5 Default.

Part A IN GENERAL.

11-2A-501. Default: Procedure.
11-2A-502. Notice after default.
11-2A-503. Modification or impairment of rights and remedies.
11-2A-504. Liquidation of damages.
11-2A-505. Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies.
11-2A-506. Statute of limitations.
11-2A-507. Proof of market rent: Time and place.

Part B DEFAULT BY LESSOR.

11-2A-508. Lessee's remedies.
11-2A-509. Lessee's rights on improper delivery; rightful rejection.
11-2A-510. Installment lease contracts: Rejection and default.
11-2A-511. Merchant lessee's duties as to rightfully rejected goods.
11-2A-512. Lessee's duties as to rightfully rejected goods.
11-2A-513. Cure by lessor of improper tender or delivery; replacement.
11-2A-514. Waiver of lessee's objections.
11-2A-515. Acceptance of goods.
11-2A-516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
11-2A-517. Revocation of acceptance of goods.
11-2A-518. Cover; substitute goods.
11-2A-519. Lessee's damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods.
11-2A-520. Lessee's incidental and consequential damages.
11-2A-521. Lessee's right to specific performance or replevin.
11-2A-522. Lessee's right to goods on lessor's insolvency.

Part C DEFAULT BY LESSEE.

11-2A-523. Lessor's remedies.
11-2A-524. Lessor's right to identify goods to lease contract.
11-2A-525. Lessor's right to possession of goods.
11-2A-526. Lessor's stoppage of delivery in transit or otherwise.
11-2A-527. Lessor's rights to dispose of goods.
11-2A-528. Lessor's damages for nonacceptance, failure to pay, repudiation, or other default.
11-2A-529. Lessor's action for the rent.
11-2A-530. Lessor's incidental damages.
11-2A-531. Standing to sue third parties for injury to goods.
11-2A-532. Lessor's rights to residual interest.

Chapter 3. Negotiable Instruments, 11-3-101 through 11-3-605.

Part 1 General Provisions and Definitions.

Part 2 Negotiation, Transfer, and Indorsement.

Part 3 Enforcement of Instruments.

Part 4 Liability of Parties.

Part 5 Dishonor.

Part 6 Discharge and Payment.

Chapter 4. Bank Deposits and Collections, 11-4-101 through 11-4-504.

Part 1 General Provisions and Definitions.

Part 2 Collection of Items: Depositary and Collecting Banks.

Part 3 Collection of Items: Payor Banks.

Part 4 Relationship Between Payor Bank and Its Customer.

Part 5 Collection of Documentary Drafts.

Part 1 Subject Matter and Definitions.

11-4A-101. Short title.
11-4A-102. Subject matter.
11-4A-103. Payment order - Definitions.
11-4A-104. Funds transfer - Definitions.
11-4A-105. Other definitions.
11-4A-106. Time payment order is received.
11-4A-107. Federal Reserve regulations and operating circulars.
11-4A-108. Relationship to federal Electronic Fund Transfer Act.

Part 2 Issue and Acceptance of Payment Order.

11-4A-201. Security procedure.
11-4A-202. Authorized and verified payment orders.
11-4A-203. Unenforceability of certain verified payment orders.
11-4A-204. Refund of payment and duty of customer to report with respect to unauthorized payment order.
11-4A-205. Erroneous payment orders.
11-4A-206. Transmission of payment order through funds-transfer or other communication system.
11-4A-207. Misdescription of beneficiary.
11-4A-208. Misdescription of intermediary bank or beneficiary's bank.
11-4A-209. Acceptance of payment order.
11-4A-210. Rejection of payment order.
11-4A-211. Cancellation and amendment of payment order.
11-4A-212. Liability and duty of receiving bank regarding unaccepted payment order.

Part 3 Execution of Sender's Payment Order by Receiving Bank.

11-4A-301. Execution and execution date.
11-4A-302. Obligations of receiving bank in execution of payment order.
11-4A-303. Erroneous execution of payment order.
11-4A-304. Duty of sender to report erroneously executed payment order.
11-4A-305. Liability for late or improper execution or failure to execute payment order.

Part 4 Payment.

11-4A-401. Payment date.
11-4A-402. Obligation of sender to pay receiving bank.
11-4A-403. Payment by sender to receiving bank.
11-4A-404. Obligation of beneficiary's bank to pay and give notice to beneficiary.
11-4A-405. Payment by beneficiary's bank to beneficiary.
11-4A-406. Payment by originator to beneficiary; discharge of underlying obligation.

Part 5 Miscellaneous Provisions.

11-4A-501. Variation by agreement and effect of funds-transfer system rule.
11-4A-502. Creditor process served on receiving bank; setoff by beneficiary's bank.
11-4A-503. Injunction or restraining order with respect to funds transfer.
11-4A-504. Order in which items and payment orders may be charged to account; order of withdrawals from account.
11-4A-505. Preclusion of objection to debit of customer's account.
11-4A-506. Rate of interest.
11-4A-507. Choice of law.

Chapter 5. Letters of Credit, 11-5-101 through 11-5-118.

Chapter 6. Bulk Transfers, 11-6-101 through 11-6-111.

11-6-101 through 11-6-111 [Repealed].

Chapter 7. Warehouse Receipts, Bills of Lading, and Other Documents of Title, 11-7-101 through 11-7-603.

Part 1 General.

Part 2 Warehouse Receipts: Special Provisions.

Part 3 Bills of Lading: Special Provisions.

Part 4 Warehouse Receipts and Bills of Lading: General Obligations.

Part 5 Warehouse Receipts and Bills of

Lading: Negotiation and Transfer.

Part 6 Warehouse Receipts and Bills of

Lading: Miscellaneous Provisions.

Chapter 8. Investment Securities, 11-8-101 through 11-8-603.

Part 1 Short Title and General Matters.

Part 2 Issue and Issuer.

Part 3 Transfer of Certificated and Uncertificated Securities.

Part 4 Registration.

Part 5 Security Entitlements.

Part 6 Transition Provisions for Revised Article 8 and Conforming Amendments to Articles 1, 3, 4, 5, 9, and 10.

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

Part 1 General Provisions.

Part 1 SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS.

Part 2 APPLICABILITY OF ARTICLE.

Part 2 Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement.

Part 1 EFFECTIVENESS AND ATTACHMENT.

Part 2 RIGHTS AND DUTIES.

Part 3 Perfection and Priority.

Part 1 LAW GOVERNING PERFECTION AND PRIORITY.

Part 2 PERFECTION.

Part 3 PRIORITY.

Part 4 RIGHTS OF BANK.

Part 4 Rights of Third Parties.

Part 5 Filing.

Part 1 FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT.

Part 2 DUTIES AND OPERATION OF FILING OFFICE AND CENTRAL INDEXING SYSTEM.

Part 6 Default.

Part 1 DEFAULT AND ENFORCEMENT OF SECURITY INTEREST.

Part 2 NONCOMPLIANCE WITH ARTICLE.

Part 7 2001 Transition.

Part 8 2013 Transition.

JUDICIAL DECISIONS Editor's notes. - In 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.

OPINIONS OF THE ATTORNEY GENERAL Editor's notes. - In the light of the similarity of the provisions, opinions 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.

RESEARCH REFERENCES Am. Jur. 2d. - 68A Am. Jur. 2d, Secured Transactions, § 1 et seq.

PART 1 SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS

PART 2 APPLICABILITY OF ARTICLE

PART 1 EFFECTIVENESS AND ATTACHMENT

PART 2 RIGHTS AND DUTIES

PART 1 LAW GOVERNING PERFECTION AND PRIORITY

PART 2 PERFECTION

PART 3 PRIORITY

PART 4 RIGHTS OF BANK

PART 1 FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT

PART 2 DUTIES AND OPERATION OF FILING OFFICE AND CENTRAL INDEXING SYSTEM

PART 1 DEFAULT AND ENFORCEMENT OF SECURITY INTEREST

NOTIFICATION OF DISPOSITION OF COLLATERAL To: (Name of debtor, obligor, or other person to which the notification is sent) From: (Name, address, and telephone number of secured party) Name of Debtor(s): (Include only if debtor(s) is (are) not an addressee) (For a public disposition:) We will sell (or lease or license, as applicable) the (describe collateral) to the highest qualified bidder in public as follows: Day and date: _______ Time: _ Place: _ (For a private disposition:) We will sell (or lease or license, as applicable) the (describe collateral) privately sometime after (day and date). You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell (or lease or license, as applicable) (for a charge of $_______). You may request an accounting by calling us at (telephone number).

PART 2 NONCOMPLIANCE WITH ARTICLE

Chapter 10. Effective Date and Repealer, 11-10-101 through 11-10-105.

Chapter 11. Revised Article 9 and Conforming Amendments to Other Articles, 11-11-101 through 11-11-104.

Chapter 12. Revisions to Article 9 Filing, 11-12-101 through 11-12-102.

2018 Georgia Code Annotated

TITLE 11 COMMERCIAL CODE

Chapter 1. General Provisions, 11-1-101 through 11-1-209.

Part 1 General Provisions.

Part 2 General Definitions and Principles of Interpretation.

Part 3 Territorial Applicability and General Rules.

Chapter 2. Sales, 11-2-101 through 11-2-725.

Part 1 Short Title, General Construction, and Subject Matter.

Part 2 Form, Formation, and Readjustment of Contract.

Part 3 General Obligation and Construction of Contract.

Part 4 Title, Creditors, and Good Faith Purchasers.

Part 5 Performance.

Part 6 Breach, Repudiation, and Excuse.

Part 7 Remedies.

Part 1 General Provisions.

Part 2 Formation and Construction of Lease Contract.

Part 3 Effect of Lease Contract.

Part 4 Performance of Lease Contract:

Repudiated, Substituted and Excused.

Part 5 Default.

Part A IN GENERAL.

Part B DEFAULT BY LESSOR.

Part C DEFAULT BY LESSEE.

Chapter 3. Negotiable Instruments, 11-3-101 through 11-3-605.

Part 1 General Provisions and Definitions.

Part 2 Negotiation, Transfer, and Indorsement.

Part 3 Enforcement of Instruments.

Part 4 Liability of Parties.

Part 5 Dishonor.

Part 6 Discharge and Payment.

Chapter 4. Bank Deposits and Collections, 11-4-101 through 11-4-504.

Part 1 General Provisions and Definitions.

Part 2 Collection of Items: Depositary and Collecting Banks.

Part 3 Collection of Items: Payor Banks.

Part 4 Relationship Between Payor Bank and Its Customer.

Part 5 Collection of Documentary Drafts.

Part 1 Subject Matter and Definitions.

Part 2 Issue and Acceptance of Payment Order.

Part 3 Execution of Sender's Payment Order by Receiving Bank.

Part 4 Payment.

Part 5 Miscellaneous Provisions.

Chapter 5. Letters of Credit, 11-5-101 through 11-5-118.

Chapter 6. Bulk Transfers, 11-6-101 through 11-6-111.

Chapter 7. Warehouse Receipts, Bills of Lading, and Other Documents of Title, 11-7-101 through 11-7-603.

Part 1 General.

Part 2 Warehouse Receipts: Special Provisions.

Part 3 Bills of Lading: Special Provisions.

Part 4 Warehouse Receipts and Bills of Lading: General Obligations.

Part 5 Warehouse Receipts and Bills of

Lading: Negotiation and Transfer.

Part 6 Warehouse Receipts and Bills of

Lading: Miscellaneous Provisions.

Chapter 8. Investment Securities, 11-8-101 through 11-8-603.

Part 1 Short Title and General Matters.

Part 2 Issue and Issuer.

Part 3 Transfer of Certificated and Uncertificated Securities.

Part 4 Registration.

Part 5 Security Entitlements.

Part 6 Transition Provisions for Revised Article 8 and Conforming Amendments to Articles 1, 3, 4, 5, 9, and 10.

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

Part 1 General Provisions.

Part 1 SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS.

Part 2 APPLICABILITY OF ARTICLE.

Part 2 Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement.

Part 1 EFFECTIVENESS AND ATTACHMENT.

Part 2 RIGHTS AND DUTIES.

Part 3 Perfection and Priority.

Part 1 LAW GOVERNING PERFECTION AND PRIORITY.

Part 2 PERFECTION.

Part 3 PRIORITY.

Part 4 RIGHTS OF BANK.

Part 4 Rights of Third Parties.

Part 5 Filing.

Part 1 FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT.

Part 2 DUTIES AND OPERATION OF FILING OFFICE AND CENTRAL INDEXING SYSTEM.

Part 6 Default.

Part 1 DEFAULT AND ENFORCEMENT OF SECURITY INTEREST.

Part 2 NONCOMPLIANCE WITH ARTICLE.

Part 7 2001 Transition.

Part 8 2013 Transition.