Georgia § 11-9-704 Security interest unperfected before effective date

Georgia Statutes

§ 11-9-704 — Security interest unperfected before effective date

Georgia § 11-9-704

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This text of Georgia § 11-9-704 (Security interest unperfected before effective date) 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. § 11-9-704 (2026).

Text

A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time:

(1)Remains an enforceable security interest on and for one year after July 1, 2001;

(2)Remains enforceable thereafter if the security interest becomes enforceable under Code Section 11-9-203 on July 1, 2001, or within one year thereafter; and (3) Becomes perfected:

(A)Without further action, on July 1, 2001, if the applicable requirements for perfection under this article are satisfied before or at that time; or (B) When the applicable 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, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) Remains an enforceable security interest on and for one year after July 1, 2001; (2) Remains enforceable thereafter if the security interest becomes enforceable under Code Section 11-9-203 on July 1, 2001, or within one year thereafter; and (3) Becomes perfected: (A) Without further action, on July 1, 2001, if the applicable requirements for perfection under this article are satisfied before or at that time; or (B) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.