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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-305. Priority.

Active

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

  1. (a)

    Determination of priority. Subject to subsections (b) and (c) of this Code section, the Uniform Commercial Code Modernization Act of 2024 determines the priority of conflicting claims to collateral.#

  2. (b)

    Established priorities. Subject to subsection (c) of this Code section, if the priorities of claims to collateral were established before July 1, 2024, Article 9 of this title as in effect before July 1, 2024, determines priority.#

  3. (c)

    Determination of certain priorities on adjustment date.#

    1. On the adjustment date, to the extent the priorities determined by Article 9 of this title as amended by the Uniform Commercial Code Modernization Act of 2024 modify the priorities established before July 1, 2024, the priorities of claims to Article 12 property and electronic money established before July 1, 2024, cease to apply.

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-305, 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 171; merge action: added; file SHA-256 df9393c4ba3b.