Security Interest Perfected Before Effective Date

  1. Law
  2. Georgia Code
  3. Commercial Code
  4. Secured Transactions
  5. 2013 Transition
  6. Security Interest Perfected Before Effective Date

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  1. Continuing perfection; perfection requirements satisfied. A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this article, as in effect on July 1, 2013, if, on July 1, 2013, the applicable requirements for attachment and perfection under this article, as in effect on July 1, 2013, are satisfied without further action.
  2. Continuing perfection; perfection requirements not satisfied. Except as otherwise provided in Code Section 11-9-805, if, immediately before July 1, 2013, a security interest is a perfected security interest, but the applicable requirements for perfection under this article, as in effect on July 1, 2013, are not satisfied on July 1, 2013, the security interest remains perfected thereafter only if the applicable requirements for perfection under this article, as in effect on July 1, 2013, are satisfied before July 1, 2014.

(Code 1981, §11-9-803, enacted by Ga. L. 2013, p. 690, § 20/SB 185.)


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