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2019 Georgia Code
Title 11 - Commercial Code
Article 9 - Secured Transactions
Part 7 - 2001 Transition
§ 11-9-704. Security interest unperfected before effective date.
Universal Citation: GA Code § 11-9-704 (2019)
- 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.
Code 1981, § 11-9-704, enacted by Ga. L. 2001, p. 362, § 1.
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