Security Interest Perfected Upon Attachment

  1. Law
  2. Georgia Code
  3. Commercial Code
  4. Secured Transactions
  5. Perfection and Priority
  6. Security Interest Perfected Upon Attachment

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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.)

Law reviews.

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

RESEARCH REFERENCES

U.L.A.

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

ALR.

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


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