Georgia Commons

Title 11. COMMERCIAL CODE

Chapter 9.

153 sections · 11-9-101 to 11-9-809

Article 9. SECURED TRANSACTIONS · Part 1. GENERAL PROVISIONS

  1. 11-9-101Short title.
  2. 11-9-102Definitions and index of definitions.
  3. 11-9-103Purchase money security interest; application of payments; burden of establishing.
  4. 11-9-104Control of deposit account.
  5. 11-9-105Control of electronic copy of record evidencing chattel paper.
  6. 11-9-105AControl of electronic money.
  7. 11-9-106Control of investment property.
  8. 11-9-107Control of letter of credit right.
  9. 11-9-107AControl of controllable electronic record, controllable account, or controllable payment intangible.
  10. 11-9-107BNo requirement to acknowledge or confirm; no duties.
  11. 11-9-108Sufficiency of description.
  12. 11-9-109Scope.
  13. 11-9-110Security interests arising under Article 2 or 2A of this title.
  14. 11-9-111Applicability of bulk transfer laws.Repealed

Article 9. SECURED TRANSACTIONS · Part 2. EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT

  1. 11-9-201General effectiveness of security agreement.
  2. 11-9-202Title to collateral immaterial.
  3. 11-9-203Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
  4. 11-9-204After acquired property; future advances.
  5. 11-9-205Use or disposition of collateral permissible.
  6. 11-9-206Security interest arising in purchase or delivery of financial asset.
  7. 11-9-207Rights and duties of secured party having possession or control of collateral.
  8. 11-9-208Additional duties of secured party having control of collateral.
  9. 11-9-209Duties of secured party if account debtor has been notified of assignment.
  10. 11-9-210Request for accounting; request regarding list of collateral or statement of account.

Article 9. SECURED TRANSACTIONS · Part 3. PERFECTION AND PRIORITY

  1. 11-9-301Law governing perfection and priority of security interests.
  2. 11-9-302Law governing perfection and priority of agricultural liens.
  3. 11-9-303Law governing perfection and priority of security interests in goods covered by a certificate of title.
  4. 11-9-304Law governing perfection and priority of security interests in deposit accounts.
  5. 11-9-305Law governing perfection and priority of security interests in investment property.
  6. 11-9-306Law governing perfection and priority of security interests in letter of credit rights.
  7. 11-9-306ALaw governing perfection and priority of security interests in chattel paper.
  8. 11-9-306BLaw governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles.
  9. 11-9-307Location of debtor.
  10. 11-9-308When security interest or agricultural lien is perfected; continuity of perfection.
  11. 11-9-309Security interest perfected upon attachment.
  12. 11-9-310When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
  13. 11-9-311Perfection of security interests in property subject to certain statutes, regulations, and treaties.
  14. 11-9-312Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, negotiable documents, goods covered by documents, instruments, investment property, letter of credit rights, and money; perfection by permissive filing; temporary perfection without filing or transfer of possession.
  15. 11-9-313When possession by or delivery to secured party perfects security interest without filing.
  16. 11-9-314Perfection by control.
  17. 11-9-314APerfection by possession and control of chattel paper.
  18. 11-9-315Secured party’s rights on disposition of collateral and in proceeds.
  19. 11-9-316Effect of change in governing law.
  20. 11-9-317Interests that take priority over or take free of security interest or agricultural lien.
  21. 11-9-318No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
  22. 11-9-319Rights and title of consignee with respect to creditors and purchasers.
  23. 11-9-320Buyer of goods.
  24. 11-9-321Licensee of general intangible and lessee of goods in ordinary course of business.
  25. 11-9-322Priorities among conflicting security interests in and agricultural liens on same collateral.
  26. 11-9-322.1Crops produced with new value.
  27. 11-9-323Future advances.
  28. 11-9-324Priority of purchase money security interests.
  29. 11-9-325Priority of security interests in transferred collateral.
  30. 11-9-326Priority of security interests created by new debtor.
  31. 11-9-326APriority of security interest in controllable account, controllable electronic record, and controllable payment intangible.
  32. 11-9-327Priority of security interests in deposit account.
  33. 11-9-328Priority of security interests in investment property.
  34. 11-9-329Priority of security interests in letter of credit right.
  35. 11-9-330Priority of purchaser of chattel paper or instrument.
  36. 11-9-331Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other articles; priority of interests in financial assets and security entitlements and protection against assertion of claim under Articles 8 and 12 of this title.
  37. 11-9-332Transfer of money; transfer of funds from deposit account.
  38. 11-9-333Priority of certain liens.
  39. 11-9-334Priority of security interests in fixtures and crops.
  40. 11-9-335Accessions.
  41. 11-9-336Commingled goods.
  42. 11-9-337Priority of security interests in goods covered by certificate of title.
  43. 11-9-338Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
  44. 11-9-339Priority subject to subordination.
  45. 11-9-340Effectiveness of right of recoupment or set-off against deposit account.
  46. 11-9-341Bank’s rights and duties with respect to deposit account.
  47. 11-9-342Bank’s right to refuse to enter into or disclose existence of control agreement.

Article 9. SECURED TRANSACTIONS · Part 4. RIGHTS OF THIRD PARTIES

  1. 11-9-401Alienability of debtor’s rights.
  2. 11-9-402Secured party not obligated on contract of debtor or in tort.
  3. 11-9-403Agreement not to assert defenses against assignee.
  4. 11-9-404Rights acquired by assignee; claims and defenses against assignee.
  5. 11-9-405Modification of assigned contract.
  6. 11-9-406Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective.
  7. 11-9-407Restrictions on creation or enforcement of security interest in leasehold interest or in lessor’s residual interest.
  8. 11-9-408Restrictions on assignment of promissory notes, health care insurance receivables, and certain general intangibles ineffective.
  9. 11-9-409Restrictions on assignment of letter of credit rights ineffective.

Article 9. SECURED TRANSACTIONS · Part 5. FILING

  1. 11-9-501Filing office.
  2. 11-9-502Contents of financing statement; record of mortgage as fixture filing or financing statement; time of filing financing statement.
  3. 11-9-503Name of debtor and secured party.
  4. 11-9-504Indication of collateral.
  5. 11-9-505Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.
  6. 11-9-506Effect of errors or omissions.
  7. 11-9-507Effect of certain events on effectiveness of financing statement.
  8. 11-9-508Effectiveness of financing statement if new debtor becomes bound by security agreement.
  9. 11-9-509Persons entitled to file a record.
  10. 11-9-510Effectiveness of filed record.
  11. 11-9-511Secured party of record.
  12. 11-9-512Amendment of financing statement.
  13. 11-9-513Termination statement.
  14. 11-9-514Assignment of powers of secured party of record.
  15. 11-9-515Duration and effectiveness of financing statement; effect of lapsed financing statement; record of mortgage as financing statement.
  16. 11-9-516What constitutes filing; effectiveness of filing.
  17. 11-9-517Effect of indexing errors.
  18. 11-9-518Inaccurate or wrongfully filed record.
  19. 11-9-519Numbering, maintaining, and indexing records; communicating information provided in records.
  20. 11-9-520Acceptance and refusal to accept record.
  21. 11-9-521Uniform form of written financing statement and amendment; authority may prescribe forms.
  22. 11-9-522Maintenance and destruction of records.
  23. 11-9-523Information from filing office and central indexing system; sale or license of records.
  24. 11-9-524Delay by filing office or authority.
  25. 11-9-525Fees.
  26. 11-9-526Rules.

Article 9. SECURED TRANSACTIONS · Part 6. DEFAULT

  1. 11-9-601Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
  2. 11-9-602Waiver and variance of rights and duties.
  3. 11-9-603Agreement on standards concerning rights and duties.
  4. 11-9-604Procedure if security agreement covers real property or fixtures.
  5. 11-9-605Unknown debtor or secondary obligor.
  6. 11-9-606Time of default for agricultural lien.
  7. 11-9-607Collection and enforcement by secured party.
  8. 11-9-608Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
  9. 11-9-609Secured party’s right to take possession after default.
  10. 11-9-610Disposition of collateral after default.
  11. 11-9-611Notification before disposition of collateral.
  12. 11-9-612Timeliness of notification before disposition of collateral.
  13. 11-9-613Contents and form of notification before disposition of collateral; general.
  14. 11-9-614Contents and form of notification before disposition of collateral; consumer goods transaction.
  15. 11-9-615Application of proceeds of disposition; liability for deficiency and right to surplus.
  16. 11-9-616Explanation of calculation of surplus or deficiency.
  17. 11-9-617Rights of transferee of collateral.
  18. 11-9-618Rights and duties of certain secondary obligors.
  19. 11-9-619Transfer of record or legal title.
  20. 11-9-620Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
  21. 11-9-621Notification of proposal to accept collateral.
  22. 11-9-622Effect of acceptance of collateral.
  23. 11-9-623Right to redeem collateral.
  24. 11-9-624Waiver.
  25. 11-9-625Remedies for secured party’s failure to comply with article.
  26. 11-9-626Action in which deficiency or surplus is in issue.
  27. 11-9-627Determination of whether conduct was commercially reasonable.
  28. 11-9-628Nonliability and limitation on liability of secured party.

Article 9. SECURED TRANSACTIONS · Part 7. 2001 TRANSITION

  1. 11-9-701Effective date.
  2. 11-9-702Savings clause.
  3. 11-9-703Security interest perfected before effective date.
  4. 11-9-704Security interest unperfected before effective date.
  5. 11-9-705Effectiveness of action taken before effective date.
  6. 11-9-706When initial financing statement suffices to continue effectiveness of financing statement.
  7. 11-9-707Amendment of pre-effective date financing statement.
  8. 11-9-708Persons entitled to file initial financing statement or continuation statement.
  9. 11-9-709Priority.
  10. 11-9-710Exculpation.

Article 9. SECURED TRANSACTIONS · Part 8. 2013 TRANSITION

  1. 11-9-801(no catchline printed)Reserved
  2. 11-9-802Savings clause.
  3. 11-9-803Security interest perfected before effective date.
  4. 11-9-804Security interest unperfected before effective date.
  5. 11-9-805Effectiveness of action taken before effective date.
  6. 11-9-806When initial financing statement suffices to continue effectiveness of financing statement.
  7. 11-9-807Amendment of pre-effective date financing statement.
  8. 11-9-808Person entitled to file initial financing statement or continuation statement.
  9. 11-9-809Priority.