General Effectiveness of Security Agreement

  1. Law
  2. Georgia Code
  3. Commercial Code
  4. Secured Transactions
  5. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement
  6. General Effectiveness of Security Agreement

Checkout our iOS App for a better way to browser and research.

  1. General effectiveness. Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
  2. Applicable consumer laws and other law. A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers and is subject to Chapter 3 of Title 7; Chapter 4 of Title 7; and Article 1 of Chapter 1 of Title 10.
  3. Other applicable law controls. In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b) of this Code section, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) of this Code section has only the effect the statute or regulation specifies.
  4. Further deference to other applicable law. This article does not:
    1. Validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b) of this Code section; or
    2. Extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.

(Code 1981, §11-9-201, enacted by Ga. L. 2001, p. 362, § 1.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 68A Am. Jur. 2d, Secured Transactions, § 155 et seq.

C.J.S.

- 72 C.J.S., Pledges, §§ 19, 31.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-201.

ALR.

- Provision in land contract against removal of buildings as affecting rights of third person under chattel mortgage or conditional sale, 30 A.L.R. 542.

Rights and remedies of one to whom bank agrees to furnish collateral security, where bank fails before doing so, 122 A.L.R. 266.

Conditional sale as affecting provision in insurance policy against change of title, interest, or possession, 133 A.L.R. 785.

Usury as affecting conditional sale contract, 152 A.L.R. 598.

Effect of UCC Article 9 upon conflict, as to funds in debtor's bank account, between secured creditor and bank claiming right of setoff, 3 A.L.R.4th 998.


Download our app to see the most-to-date content.