The method provided in this chapter of perfecting and giving notice of security interests and liens with respect to motor vehicles as to which certificates of title need be obtained under this chapter is exclusive, and such security interests and liens are exempt from the provisions of law which otherwise require or relate to the recording or filing of security interests or liens, claims of lien executions, and other like instruments with respect to such vehicles.
(Ga. L. 1961, p. 68, § 27; Ga. L. 1962, p. 79, § 17; Ga. L. 1990, p. 2048, § 3.)
OPINIONS OF THE ATTORNEY GENERAL
Used car dealers.
- In order to perfect a dealer's security interest in a vehicle, a used car dealer must follow the requirements specified in O.C.G.A. Ch. 3, T. 40; the method for perfecting a security interest as described in those provisions is exclusive, and such security interests in motor vehicles as to which certificates of title must be obtained are exempt from the provisions of law which otherwise require or relate to the recording or filing of security interests. 1990 Op. Att'y Gen. No. 90-8.
Used car dealer who has a security interest in a vehicle may exercise all rights afforded to the dealer by the security agreement, including repossession, despite not having perfected the dealer's security interest. 1990 Op. Att'y Gen. No. 90-8.
RESEARCH REFERENCES
Am. Jur. 2d.
- 7A Am. Jur. 2d, Automobiles and Highway Traffic, § 35.
C.J.S.- 60 C.J.S., Motor Vehicles, §§ 41, 42. 72 C.J.S., Pledges, §§ 43, 44.
U.L.A.- Uniform Motor Vehicle Certificate of Title and Anti-Theft Act (U.L.A.) § 25.