Title 11 — Commercial Code
0 chapters · 563 sections in this title.
O.C.G.A. § 11-9-303 Investment property, §11-9-305
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Letter-of-credit rights, §11-9-306. Letter-of-credit rights. Law governing, §11-9-306. Perfection by control, §11-9-314. Security interests in, §11-9-312. Money. Security interests in, §11-9-312. Possession by secured party. Perfection of security interest without filing, §11-9-31…
O.C.G.A. § 11-9-304 General effectiveness of security agreement
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Title to collateral immaterial. Attachment and enforceability of security interest; 11-9-305. 689 Law governing perfection and priority of security interests. Law governing perfection and priority of agricultural liens. Law governing perfection and priority of security interests …
O.C.G.A. § 11-9-307 Location of debtor
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(a) “Place of business.” As used in this Code section, the term “place of business” means a place where a debtor conducts its affairs. (b) Debtor’s location; general rules. Except as otherwise provided in this Code section, the following rules determine a debtor’s location: (1) A…
O.C.G.A. § 11-9-309 Security interest perfected upon attachment
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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 s…
O.C.G.A. § 11-9-310 Financing statements
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Filed statement containing incorrect information, §11-9-338. Fixtures and crops, §11-9-334. Future advances, §11-9-323. Interest after sale of right to payment, §11-9-318. Investment property, §11-9-312. Interests in, §11-9-328. Law governing, §11-9-305. Law governing, generally,…
O.C.G.A. § 11-9-311 When perfected, §11-9-308
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Priority of security interests. Accessions, §11-9-335. Agricultural liens. Agricultural liens on same collateral, §11-9-322. Crops produced with new value, §11-9-322.1. Filed financing statement providing certain incorrect information. Agricultural lien perfected by, §11-9-338. CO…
O.C.G.A. § 11-9-312 Investment property
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Perfection by control, §11-9-314. Security interests in, §11-9-312. Law governing, §11-9-301. Agricultural liens, §11-9-302. Deposit accounts, §11-9-304. Goods covered by certificate of title, §11-9-303. Investment property, §11-9-305. Letter-of-credit rights, §11-9-306. Letter-of…
O.C.G.A. § 11-9-314 Perfection by control
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(a) Perfection by control. A security interest in investment property, deposit accounts, letter of credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under Code Section 11-7-106, 11-9-104, 11-9-105, 11-9-106, or 11-9-107…
O.C.G.A. § 11-9-315 List of collateral
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Request regarding, §11-9-210. Possession of collateral. Rights and duties of secured party having, §11-9-207. Title immaterial, §11-9-202. Transferred collateral. Priority of security interests in, §11-9-325. Use permissible, §11-9-205.
O.C.G.A. § 11-9-316 Effect of change in governing law
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(a) General rule; effect on perfection of change in governing law. A security interest perfected pursuant to the law of the jurisdiction designated in paragraph (1) of Code Section 11-9-301 or subsection (c) of Code Section 11-9-305 remains perfected until the earliest of: (1) Th…
O.C.G.A. § 11-9-317 Law governing, §11-9-302
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When perfected, §11-9-308. Applicability of other statutes and treaties, §11-9-311. Attachment, perfection on, §11-9-309. Buyers of goods, §11-9-320. Certificate of title, goods covered by. Interests in, §11-9-337. Law governing, §11-9-303. Chattel paper, §11-9-312. Priority of pu…
O.C.G.A. § 11-9-319 Construction mortgage, §11-9-334
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Crops, §11-9-334. Deposit account, §11-9-327. Transfer of funds from, §11-9-332. Filed financing statement providing certain incorrect information. Security interest perfected by, §11-9-338. Financial asset.
O.C.G.A. § 11-9-320 Buyer of goods
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(a) Buyer in ordinary course of business. Except as otherwise provided in subsection (e) of this Code section, a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created b…
O.C.G.A. § 11-9-321 New debtor
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Security interests created by, §11-9-326. Property tax liens and other state tax liens, §11-9-333. Purchase-money security interests, §11-9-324. Purchasers of instruments, documents, and securities under other provisions. Priority of rights of, §11-9-331. Sale of right to payment…
O.C.G.A. § 11-9-322 Consignee
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Rights and title with respect to creditors and purchasers, §11-9-319. Construction mortgage, §11-9-334.
O.C.G.A. § 11-9-322.1 Crops produced with new value
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A perfected security interest in growing crops for new value given to enable the debtor to produce the crops during the production season and given not more than three months before the crops become growing crops by planting or otherwise takes priority over an earlier perfected s…
O.C.G.A. § 11-9-323 Future advances
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(a) When priority based on time of advance. Except as otherwise provided in subsection (b) of this Code section, for purposes of determining the priority of a perfected security interest under paragraph (1) of subsection (a) of Code Section 11-9-322, perfection of the security in…
O.C.G.A. § 11-9-324 Priority of purchase money security interests
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(a) General rule; purchase money priority. Except as otherwise provided in subsection (g) of this Code section, a perfected purchase money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except …
O.C.G.A. § 11-9-325 Priority of security interests in transferred collateral
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(a) Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b) of this Code section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (1) The debtor…
O.C.G.A. § 11-9-326 Priority of security interests created by new debtor
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(a) Subordination of security interest created by new debtor. Subject to subsection (b) of this Code section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that…
O.C.G.A. § 11-9-327 Priority of security interests in deposit account
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The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having control of the deposit account under Code Section 11-9-104 has priority over a conflicting security interest held by a secure…
O.C.G.A. § 11-9-328 Priority of security interests in investment property
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The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a secured party having control of investment property under Code Section 11-9-106 has priority over a security interest held by a secured party…
O.C.G.A. § 11-9-329 Priority of security interests in letter of credit right
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The following rules govern priority among conflicting security interests in the same letter of credit right: (1) A security interest held by a secured party having control of the letter of credit right under Code Section 11-9-107 has priority to the extent of its control over a co…
O.C.G.A. § 11-9-330 Priority of purchaser of chattel paper or instrument
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(a) Purchaser’s priority; security interest claimed merely as proceeds. A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a security interest if: (1) In good faith and in the ordinar…
O.C.G.A. § 11-9-331 Fixtures
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Security interest in, §11-9-334. Future advances, §11-9-323. Investment property, §11-9-328. Law governing, §11-9-301. Agricultural liens, §11-9-302. Deposit accounts, §11-9-304. Goods covered by certificate of title, §11-9-303. Investment property, §11-9-305. Letter-of-credit rig…
O.C.G.A. § 11-9-333 Priority of certain liens
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(a) Year’s support; property taxes; other state taxes; other taxes or judgments. Except as is expressly provided to the contrary elsewhere in this article and in subsection (b) of this Code section, a perfected security interest in collateral takes priority over each and all of t…
O.C.G.A. § 11-9-334 Priority of security interests in fixtures and crops
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(a) Security interest in fixtures under this article. A security interest under this article may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this article in ordinary building materials incorporated int…
O.C.G.A. § 11-9-335 Accessions
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(a) Creation of security interest in accession. A security interest may be created in an accession and continues in collateral that becomes an accession. (b) Perfection of security interest. If a security interest is perfected when the collateral becomes an accession, the securit…
O.C.G.A. § 11-9-336 Commingled goods
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(a) “Commingled goods.” As used in this Code section, the term “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (b) No security interest in commingled goods as such. A security interest d…
O.C.G.A. § 11-9-337 Health insurance
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Health-care-insurance receivables. Third parties. Assignments, restrictions, §§11-9-406, 11-9-408. Identification and proof of assignment. Leases. Restrictions on security interest in leasehold interest or in lessor’s residual interest, §11-9-407. Investment property.
O.C.G.A. § 11-9-338 Financial asset
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Priority of certain interests in, §11-9-331. 1098 INDEX UNIFORM COMMERCIAL CODE —Cont’d Secured transactions —Cont’d Priority of security interests —Cont’d Fixtures. Security interest in, §11-9-334. Future advances, §11-9-323. Investment property, §11-9-328. Law governing, §11-9-…
O.C.G.A. § 11-9-339 Priority subject to subordination
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This article does not preclude subordination by agreement by a person entitled to priority. History. Code 1981, § 11-9-339, enacted by Ga. L. 2001, p. 362, § 1.
O.C.G.A. § 11-9-340 SETTLEMENTS
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Bank deposits and collections. Collection of items by depositary and collecting banks. Settlement of items. Medium and time of settlement, §11-4-213. 1063 INDEX SETTLEMENTS —Cont’d Bank deposits and collections —Cont’d Collection of items by depositary and collecting banks —Cont’…
O.C.G.A. § 11-9-341 Bank’s rights and duties with respect to deposit account
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Except as otherwise provided in subsection (c) of Code Section 11-9-340, and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by: (1) The cr…
O.C.G.A. § 11-9-401 Alienability of debtor’s rights
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(a) Other law governs alienability; exceptions. Except as otherwise provided in subsection (b) of this Code section and Code Sections 11-9-406, 11-9-407, 11-9-408, and 11-9-409, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by…
O.C.G.A. § 11-9-402 Torts of debtor
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Secured party not obligated on, §11-9-402. Transitional provisions, 2001, §11-9-701. Amendment of pre-effective financing statement, §11-9-707. Effectiveness of action taken before effective date, §11-9-705. Financing statement, continuing effectiveness, §11-9-706. Interest perfec…
O.C.G.A. § 11-9-403 Agreement not to assert defenses against assignee
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(a) “Value.” As used in this Code section, the term “value” has the meaning provided in subsection (a) of Code Section 11-3-303. (b) Agreement not to assert claim or defense. Except as otherwise provided in this Code section, an agreement between an account debtor and an assignor…
O.C.G.A. § 11-9-404 Contract of debtor
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Secured party not obligated on, §11-9-402. Torts of debtor.
O.C.G.A. § 11-9-405 Modification of assigned contract
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(a) Effect of modification on assignee. A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modifi…
O.C.G.A. § 11-9-406 Investment property
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Control, §11-9-106. Defined, §11-9-102. Perfection and priority of security interests in, §11-9-312. Law governing, §11-9-305. COMMERCIAL CODE —Cont’d Secured transactions —Cont’d Investment property —Cont’d Perfection and priority of security interests in —Cont’d Perfection by co…
O.C.G.A. § 11-9-407 Letter of credit rights, §11-9-409
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Promissory notes, health care insurance receivables and general intangibles, §11-9-408. Rights of assignee, §11-9-404. ANATOMICAL GIFTS. Sales contracts. Implied warranties. Exclusions, §11-2-316. ATTACHMENT. Funds transfers. Creditor process served on receiving bank, §11-4A-502.…
O.C.G.A. § 11-9-408 RECORDS
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Secured transactions. Filing office. Duties and operation, central indexing, §§11-9-519 to 11-9-526. RECOUPMENT. Negotiable instruments, §11-3-305. Secured transactions. Bank exercising against secured party. Deposit account maintained in bank, §11-9-340. PROPERTY TAXES.
O.C.G.A. § 11-9-501 Filing office
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(a) Filing offices. Except as otherwise provided in subsection (b) of this Code section, if the law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien …
O.C.G.A. § 11-9-502 Secured transactions
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Generally, §§11-9-101 to 11-9-809. Record of mortgage as fixture filing or financing statement, §11-9-502. 1048 INDEX MOTOR CARRIERS. Documents of title. General provisions, §§11-7-101 to 11-7-603. N NAMES. Secured transactions. Financing statement, §11-9-503. NEGLIGENCE. Bank depos…
O.C.G.A. § 11-9-503 Name of debtor and secured party
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(a) Sufficiency of debtor’s name. A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in paragraph (3) of this subsection, if the debtor is a registered organization or the collateral is held in a trust that is a registered organiza…
O.C.G.A. § 11-9-504 Indication of collateral
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A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) A description of the collateral pursuant to Code Section 11-9108; or (2) An indication that the financing statement covers all assets or all personal property. History…
O.C.G.A. § 11-9-505 Effectiveness, §11-9-516
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Effectiveness of filed record, §11-9-510. Persons entitled to file, §11-9-509.
O.C.G.A. § 11-9-506 Effect of errors or omissions
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(a) Minor errors and omissions. A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading. (b) Financing statement seriously m…
O.C.G.A. § 11-9-507 Filing, §§11-9-501, 11-9-502, 11-9-505
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Effectiveness, §11-9-516. Effectiveness of filed record, §11-9-510. Persons entitled to file, §11-9-509.
O.C.G.A. § 11-9-508 Secured party of record, §11-9-511
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Assignment of powers of, §11-9-514. Termination statement, §11-9-513. Time of filing, §11-9-502. Transitional provisions, 2001. Amendment of pre-effective statement, §11-9-707. Financing statement, continuing effectiveness, §11-9-706. Persons entitled to file financing statement, §1…