Georgia § 11-12a-305 Priority

Georgia Statutes

§ 11-12a-305 — Priority

(a)Determination of priority. Subject to subsections (b) and (c) of this Code section, the Uniform Commercial Code Modernization Act of 2024 determines the priority of conflicting claims to collateral.

(b)Established priorities. Subject to subsection (c) of this Code section, if the priorities of claims to collateral were established before July 1, 2024, Article 9 of this title as in effect before July 1, 2024, determines priority.

(c)Determination of certain priorities on adjustment date. On the adjustment date, to the extent the priorities determined by Article 9 of this title as amended by the Uniform Commercial Code Modernization Act of 2024 modify the priorities established before July 1, 2024, the priorities of claims to Article 12 property and electronic money established before

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(a) Determination of priority. Subject to subsections (b) and (c) of this Code section, the Uniform Commercial Code Modernization Act of 2024 determines the priority of conflicting claims to collateral. (b) Established priorities. Subject to subsection (c) of this Code section, if the priorities of claims to collateral were established before July 1, 2024, Article 9 of this title as in effect before July 1, 2024, determines priority. (c) Determination of certain priorities on adjustment date. On the adjustment date, to the extent the priorities determined by Article 9 of this title as amended by the Uniform Commercial Code Modernization Act of 2024 modify the priorities established before July 1, 2024, the priorities of claims to Article 12 property and electronic money established before July 1, 2024, cease to apply.

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