Official Code of Georgia Annotated

Title 40. MOTOR VEHICLES AND TRAFFIC · Chapter 3. CERTIFICATES OF TITLE, SECURITY INTERESTS, AND LIENS · Article 3. SECURITY INTERESTS IN AND LIENS ON MOTOR VEHICLES

40-3-50. Perfection of security interests generally.

Active

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

(a)
Except as provided in Code Sections 11-9-303, 11-9-316, and 11-9-337, the security interest in a vehicle of the type for which a certificate of title is required shall be perfected and shall be valid against subsequent creditors of the owner, subsequent transferees, and the holders of security interests and liens on the vehicle by compliance with this chapter.#
(b)
1. (1)
  A security interest is perfected by delivery to the commissioner or to the county tag agent of the county in which the seller is located, of the county in which the sale takes place, of the county in which the vehicle is delivered, or of the county wherein the vehicle owner resides, of the required fee and:#
  (A)
  The existing certificate of title, if any, and an application for a certificate of title containing the name and address of the holder of a security interest; or#
  (B)
  A notice of security interest on forms prescribed by the commissioner.#
2. (2)
  The security interest is perfected as of the time of its creation if the initial delivery of the application or notice to the commissioner or local tag agent is completed within 30 days thereafter, regardless of any subsequent rejection of the application or notice for errors; otherwise, as of the date of the delivery to the commissioner or local tag agent. The local tag agent shall issue a receipt or other evidence of the date of filing of such application or notice. When the security interest is perfected as provided for in this subsection, it shall constitute notice to everybody of the security interest of the holder.#

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

Ga. L. 1961, p. 68, § 21; Ga. L. 1962, p. 79, § 11; Ga. L. 1978, p. 1081, § 9; Ga. L. 1981, p. 883, § 9; Ga. L. 1990, p. 2048, § 3; Ga. L. 1994, p. 352, § 2; Ga. L. 1995, p. 809, § 14; Ga. L. 2000, p. 227, § 1; Ga. L. 2001, p. 362, § 32; Ga. L. 2011, p. 510, § 1/HB 323.

Editor's notes

Ga. L. 1994, p. 352, § 3, not codified by the General Assembly, provides: “The General Assembly declares that the enactment of Section 2 of this Act is a present clarification of the original intent of the General Assembly as to the method, manner, and time of perfection of a security interest in a motor vehicle.” Ga. L. 1995, p. 809, § 22, not codified by the General Assembly, provides: “Any local law enacted pursuant to Code Section 40-2-21, which is in conflict with the provisions of this Act shall stand repealed on the effective date of this Act.” The act became effective January 1, 1997.

Law reviews

For comment on Maley v. National Acceptance Co., 250 F. Supp. 841 (N.D. Ga. 1966), see 3 Ga. St. B.J. 248 (1966).

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

Text read from t40-ch1-5-(v28a)-2024-pdf.pdf, Volume V28A, 2024 edition, page 443; merge action: carried; file SHA-256 991cd8c9db96.

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