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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 12A. · Article 12A. TRANSITIONAL PROVISIONS FOR UNIFORM COMMERCIAL CODE AMENDMENTS · Part 3. TRANSITIONAL PROVISIONS FOR ARTICLES 9 AND 12

11-12A-303. Security interest unperfected before effective date.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. A security interest that is enforceable immediately before July 1, 2024, but is unperfected at that time:

  2. (1)

    Remains an enforceable security interest until the adjustment date;#

  3. (2)

    Remains enforceable thereafter if the security interest becomes enforceable under Code Section 11-9-203, as amended by the Uniform Commercial Code Modernization Act of 2024, on July 1, 2024, or before the adjustment date; and#

  4. (3)

    Becomes perfected:#

    1. (A)

      Without further action, on July 1, 2024, if the requirements for perfection under the Uniform Commercial Code Modernization Act of 2024 are satisfied before or at that time; or#

    2. (B)

      When the requirements for perfection are satisfied if the requirements are satisfied after that time.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-12A-303, enacted by Ga. L. 2024, p. 817, § 4-1/HB 1240, effective July 1, 2024.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-pdf.pdf, Volume V9, 2022 edition, 2025 supplement, page 170; merge action: added; file SHA-256 df9393c4ba3b.