Priority of Liens Arising by Attachment or Levy On, Security Interests In, and Other Claims to Goods

  1. Law
  2. Georgia Code
  3. Commercial Code
  4. Leases
  5. Effect of Lease Contract
  6. Priority of Liens Arising by Attachment or Levy On, Security Interests In, and Other Claims to Goods

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  1. Except as otherwise provided in Code Section 11-2A-306, a creditor of a lessee takes subject to the lease contract.
  2. Except as otherwise provided in subsection (3) of this Code section and in Code Sections 11-2A-306 and 11-2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.
  3. Except as otherwise provided in Code Sections 11-9-317, 11-9-321, and 11-9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.

(Code 1981, §11-2A-307, enacted by Ga. L. 1993, p. 633, § 1; Ga. L. 2001, p. 362, § 11.)

The 2001 amendment, effective July 1, 2001, rewrote this section.

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 2A-307.


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