---
title: O.C.G.A. § 11-8-203. Staleness as notice of defect or defense.
collection: code
id: 11-8-203
cite_as: O.C.G.A. § 11-8-203 (2025)
canonical_url: https://georgiacommons.org/code/11-8-203
md_url: https://georgiacommons.org/code/11-8-203.md
text_url: https://georgiacommons.org/code/11-8-203/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=674
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-8.md
previous: https://georgiacommons.org/code/11-8-202.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / INVESTMENT SECURITIES / ISSUE AND ISSUER
---

# O.C.G.A. § 11-8-203. Staleness as notice of defect or defense.

After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of any defect in its issue or defense of the issuer, if the act or event:

(1) Requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or

(2) Is not covered by paragraph (1) of this Code section and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due.

## History

Code 1981, § 11-8-203, enacted by Ga. L. 1998, p. 1323, § 1.