Georgia § 11-12a-303 Security interest unperfected before effective date

Georgia Statutes

§ 11-12a-303 — Security interest unperfected before effective date

A security interest that is enforceable immediately before July 1, 2024, but is unperfected at that time:

(1)Remains an enforceable security interest until the adjustment date;

(2)Remains enforceable thereafter if the security interest becomes enforceable under Code Section 11-9-203 , as amended by the Uniform Commercial Code Modernization Act of 2024, on July 1, 2024, or before the adjustment date; and (3) Becomes perfected:

(A)Without further action, on July 1, 2024, if the requirements for perfection under the Uniform Commercial Code Modernization Act of 2024 are satisfied before or at that time; or (B) When the requirements for perfection are satisfied if the requirements are satisfied after that time.

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A security interest that is enforceable immediately before July 1, 2024, but is unperfected at that time: (1) Remains an enforceable security interest until the adjustment date; (2) Remains enforceable thereafter if the security interest becomes enforceable under Code Section 11-9-203 , as amended by the Uniform Commercial Code Modernization Act of 2024, on July 1, 2024, or before the adjustment date; and (3) Becomes perfected: (A) Without further action, on July 1, 2024, if the requirements for perfection under the Uniform Commercial Code Modernization Act of 2024 are satisfied before or at that time; or (B) When the requirements for perfection are satisfied if the requirements are satisfied after that time.

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