Georgia Statutes
§ 11-1-203 — Lease distinguished from security interest
Georgia § 11-1-203
JurisdictionGeorgia
Title11
This text of Georgia § 11-1-203 (Lease distinguished from security interest) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
O.C.G.A. § 11-1-203 (2026).
Text
(a)Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case.
(b)A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay to the lessor for the right to possession and use of the goods is an obligation for the term of the lease and is not subject to termination by the lessee, and:
(1)The original term of the lease is equal to or greater than the remaining economic life of the goods;
(2)The lessee is bound to renew the lease for the remaining economic life of the goods or is bound to become the owner of the goods;
(3)The lessee has an option to renew the lease for the remaining economic life of the goods for no additional consideration or nominal additional considerati
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Related
American Casual Dining, L.P. v. Moe's Southwest Grill, L.L.C.
426 F. Supp. 2d 1356 (N.D. Georgia, 2006)
Lake Tightsqueeze v. Chrysler First Financial Services Corporation
435 S.E.2d 486 (Court of Appeals of Georgia, 1993)
Stuart Enterprises International, Inc. v. Peykan, Inc.
555 S.E.2d 881 (Court of Appeals of Georgia, 2001)
West v. Koufman
384 S.E.2d 664 (Supreme Court of Georgia, 1989)
Stewart v. Suntrust Mortgage, Inc.
770 S.E.2d 892 (Court of Appeals of Georgia, 2015)
Smithloff v. Benson
328 S.E.2d 759 (Court of Appeals of Georgia, 1985)
Crosson v. Lancaster
427 S.E.2d 864 (Court of Appeals of Georgia, 1993)
Ralls Corp. v. Huerfano River Wind, LLC
27 F. Supp. 3d 1303 (N.D. Georgia, 2014)
Martin v. Hamilton State Bank
723 S.E.2d 726 (Court of Appeals of Georgia, 2012)
Delta Diversified, Inc. v. Citizens & Southern National Bank
320 S.E.2d 767 (Court of Appeals of Georgia, 1984)
Jones v. Small Business Administration (In Re Cohutta Mills, Inc.)
108 B.R. 815 (N.D. Georgia, 1989)
Tri-State Consumer Insurance v. Lexisnexis Risk Solutions Inc.
823 F. Supp. 2d 1306 (N.D. Georgia, 2011)
EZ Green Associates, LLC v. Georgia-Pacific Corp.
734 S.E.2d 485 (Court of Appeals of Georgia, 2012)
Greenwald v. Columbus Bank & Trust Co.
492 S.E.2d 248 (Court of Appeals of Georgia, 1997)
Graniteville Co. v. Bleckley Lumber Co.
687 F. Supp. 589 (M.D. Georgia, 1988)
In Re Simpson Motor Co.
101 B.R. 813 (N.D. Georgia, 1989)
Shaneka Necole Paschal
(M.D. Georgia, 2020)
Ezgreen Associates, LLC v. Georgia Pacific Corp
(Court of Appeals of Georgia, 2012)
The Four County Bank v. Tidewater Equipment Co.
771 S.E.2d 437 (Court of Appeals of Georgia, 2015)
Legislative History
Amended by 2024 Ga. Laws 600,§ 5-2, eff. 7/1/2024. Amended by 2015 Ga. Laws 167,§ 3A-1, eff. 1/1/2016.
Nearby Sections
15
§ 11-1-101
Short titles§ 11-1-102
Scope of article§ 11-1-104
Construction against implicit repeal§ 11-1-105
Severability§ 11-1-106
Use of singular and plural; gender§ 11-1-107
Section captions§ 11-1-201
General definitions§ 11-1-202
Notice; knowledge§ 11-1-204
Value§ 11-1-205
Reasonable time; seasonableness§ 11-1-206
PresumptionsCite This Page — Counsel Stack
Bluebook (online)
Georgia § 11-1-203, Counsel Stack Legal Research, https://law.counselstack.com/statute/ga/11-1-203.