2020 Georgia Code
Title 11 - Commercial Code
Article 9 - Secured Transactions
Part 3 - Perfection and Priority
§ 11-9-309. Security Interest Perfected Upon Attachment

The following security interests are perfected when they attach:

1. A purchase money security interest in consumer goods, except as otherwise provided in subsection (b) of Code Section 11-9-311 with respect to consumer goods that are subject to a statute or treaty described in subsection (a) of Code Section 11-9-311;
2. An assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles;
3. A sale of a payment intangible;
4. A sale of a promissory note;
5. A security interest created by the assignment of a health care insurance receivable to the provider of the health care goods or services;
6. A security interest arising under Code Section 11-2-401 or 11-2-505, subsection (3) of Code Section 11-2-711, or subsection (5) of Code Section 11-2A-508, until the debtor obtains possession of the collateral;
7. A security interest of a collecting bank arising under Code Section 11-4-210;
8. A security interest of an issuer or nominated person arising under Code Section 11-5-118;
9. A security interest arising in the delivery of a financial asset under subsection (c) of Code Section 11-9-206;
10. A security interest in investment property created by a broker or securities intermediary;
11. A security interest in a commodity contract or a commodity account created by a commodity intermediary;
12. An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and
13. A security interest created by an assignment of a beneficial interest in a decedent's estate.

(Code 1981, §11-9-309, enacted by Ga. L. 2001, p. 362, § 1.)

- Commercial Law, see 53 Mercer L. Rev. 153 (2001).

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-309.

- Creation and perfection of security interests in insurance proceeds under Article 9 of Uniform Commercial Code, 47 A.L.R.6th 347.