reglab/housing_qa huggingface dataset:
GA Code § 11-9-206 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|§ 11-9-206. Security Interest Arising in Purchase or Delivery of Financial Asset

  Security interest when person buys through securities intermediary. A security interest in favor of a securities intermediary attaches to a person's security entitlement if:   The person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and   The securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.     Security interest secures obligation to pay for financial asset. The security interest described in subsection (a) of this Code section secures the person's obligation to pay for the financial asset.   Security interest in payment against delivery transaction. A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if:   The security or other financial asset:   In the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and   Is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and     The agreement calls for delivery against payment.     Security interest secures obligation to pay for delivery. The security interest described in subsection (c) of this Code section secures the obligation to make payment for the delivery.     (Code 1981, §11-9-206, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-206.    PART 2  RIGHTS AND DUTIES
GA Code § 11-9-209 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|§ 11-9-209. Duties of Secured Party if Account Debtor Has Been Notified of Assignment

  Applicability of Code section. Except as otherwise provided in subsection (c) of this Code section, this Code section applies if:   There is no outstanding secured obligation; and   The secured party is not committed to make advances, incur obligations, or otherwise give value.     Duties of secured party after receiving demand from debtor. Within ten days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under subsection (a) of Code Section 11-9-406 an authenticated record that releases the account debtor from any further obligation to the secured party.   Inapplicability to sales. This Code section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.     (Code 1981, §11-9-209, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-209.
GA Code § 11-9-302 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-302. Law Governing Perfection and Priority of Agricultural Liens

 While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products.    (Code 1981, §11-9-302, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-302.
GA Code § 11-9-303 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-303. Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title

  Applicability of Code section. This Code section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor.   When goods covered by certificate of title. Goods become covered by a certificate of title when a valid application for the certificate of title and the applicable fee are delivered to the appropriate authority. Goods cease to be covered by a certificate of title at the earlier of the time the certificate of title ceases to be effective under the law of the issuing jurisdiction or the time the goods become covered subsequently by a certificate of title issued by another jurisdiction.   Applicable law. The local law of the jurisdiction under whose certificate of title the goods are covered governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in goods covered by a certificate of title from the time the goods become covered by the certificate of title until the goods cease to be covered by the certificate of title.     (Code 1981, §11-9-303, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-303.   ALR.   - Choice of State Law Governing Perfection of Security Interest or Agricultural Lien Under Revised Article 9 of Uniform Commercial Code, 39 A.L.R.7th Art. 3
GA Code § 11-9-304 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-304. Law Governing Perfection and Priority of Security Interests in Deposit Accounts

  Law of bank's jurisdiction governs. The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank.   Bank's jurisdiction. The following rules determine a bank's jurisdiction for purposes of this part:   If an agreement between the bank and its customer governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of this part, this article, or this title, that jurisdiction is the bank's jurisdiction;   If paragraph (1) of this subsection does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction;   If neither paragraph (1) nor (2) of this subsection applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction;   If none of the preceding paragraphs of this subsection applies, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located; and   If none of the preceding paragraphs of this subsection applies, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.       (Code 1981, §11-9-304, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2002, p. 995, § 4.)    The 2002 amendment,  effective July 1, 2002, substituted "its customer" for "the debtor" near the beginning of paragraph (b)(1).   Editor's notes.   - Ga. L. 2002, p. 995, § 8, not codified by the General Assembly, provides that: "This Act shall become effective July 1, 2002, and shall apply to a letter of credit that is issued on or after July 1, 2002. This Act does not apply to a transaction, event, obligation, or duty arising out of or associated with a letter of credit that was issued before July 1, 2002."   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-304.
GA Code § 11-9-306 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-306. Law Governing Perfection and Priority of Security Interests in Letter of Credit Rights

  Governing law; issuer's or nominated person's jurisdiction. Subject to subsection (c) of this Code section, the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter of credit right if the issuer's jurisdiction or nominated person's jurisdiction is a state.   Issuer's or nominated person's jurisdiction. For purposes of this part, an issuer's jurisdiction or nominated person's jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter of credit right as provided in Code Section 11-5-116.   When Code section not applicable. This Code section does not apply to a security interest that is perfected only under subsection (d) of Code Section 11-9-308.     (Code 1981, §11-9-306, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-306.
GA Code § 11-9-309 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-309. Security Interest Perfected Upon Attachment

 The following security interests are perfected when they attach:    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;   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;   A sale of a payment intangible;   A sale of a promissory note;   A security interest created by the assignment of a health care insurance receivable to the provider of the health care goods or services;   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;   A security interest of a collecting bank arising under Code Section 11-4-210;   A security interest of an issuer or nominated person arising under Code Section 11-5-118;   A security interest arising in the delivery of a financial asset under subsection (c) of Code Section 11-9-206;   A security interest in investment property created by a broker or securities intermediary;   A security interest in a commodity contract or a commodity account created by a commodity intermediary;   An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and   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.
GA Code § 11-9-311 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-311. Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties

  Security interest subject to other law. Except as otherwise provided in subsection (d) of this Code section, the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to:   A statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt subsection (a) of Code Section 11-9-310;   Chapter 3 of Title 40; or   A statute of another jurisdiction which provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property.     Compliance with other law. Compliance with the requirements of a statute, regulation, or treaty described in subsection (a) of this Code section for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this article. Except as otherwise provided in subsection (d) of this Code section, in Code Section 11-9-313, and in subsections (d) and (e) of Code Section 11-9-316 for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in subsection (a) of this Code section may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral.   Duration and renewal of perfection. Except as otherwise provided in subsection (d) of this Code section and subsections (d) and (e) of Code Section 11-9-316, duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in subsection (a) of this Code section are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this article.   Inapplicability to certain inventory. During any period in which collateral subject to a statute specified in paragraph (2) of subsection (a) of this Code section is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this Code section does not apply to a security interest in that collateral created by that person.     (Code 1981, §11-9-311, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2013, p. 690, § 4/SB 185.)    The 2013 amendment,  effective July 1, 2013, in paragraph (a)(3), deleted "certificate of title" preceding "statute" at the beginning and substituted "a certificate of title" for "the certificate" near the middle.   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-311.
GA Code § 11-9-318 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-318. No Interest Retained in Right to Payment That Is Sold; Rights and Title of Seller of Account or Chattel Paper With Respect to Creditors and Purchasers

  Seller retains no interest. A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.   Deemed rights of debtor if buyer's security interest unperfected. For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.     (Code 1981, §11-9-318, 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.) § 9-318.
GA Code § 11-9-319 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-319. Rights and Title of Consignee With Respect to Creditors and Purchasers

  Consignee has consignor's rights. Except as otherwise provided in subsection (b) of this Code section, for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer.   Applicability of other law. For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignee's possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor.     (Code 1981, §11-9-319, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-319.
GA Code § 11-9-321 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-321. Licensee of General Intangible and Lessee of Goods in Ordinary Course of Business

  "Licensee in ordinary course of business." As used in this Code section, the term "licensee in ordinary course of business" means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in the ordinary course if the license to the person comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices.   Rights of licensee in ordinary course of business. A licensee in ordinary course of business takes its rights under a nonexclusive license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected and the licensee knows of its existence.   Rights of lessee in ordinary course of business. A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the security interest is perfected and the lessee knows of its existence.     (Code 1981, §11-9-321, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-321.
GA Code § 11-9-322.1 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-322.1. Crops Produced With New Value

 A perfected security interest in growing crops for new value given to enable the debtor to produce the crops during the production season and given not more than three months before the crops become growing crops by planting or otherwise takes priority over an earlier perfected security interest or agricultural lien to the extent that such earlier interest or lien secures obligations incurred more than six months before the crops become growing crops by planting or otherwise, even though the person giving new value had knowledge of the earlier security interest or agricultural lien.    (Code 1981, §11-9-322.1, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2002, p. 995, § 5.)    The 2002 amendment,  effective July 1, 2002, inserted "growing" near the beginning, inserted "or agricultural lien" and "or lien" near the middle and added "or agricultural lien" at the end.   Editor's notes.   - Ga. L. 2002, p. 995, § 8, not codified by the General Assembly, provides that: "This Act shall become effective July 1, 2002, and shall apply to a letter of credit that is issued on or after July 1, 2002. This Act does not apply to a transaction, event, obligation, or duty arising out of or associated with a letter of credit that was issued before July 1, 2002."   JUDICIAL DECISIONS   Editor's notes.   - In the light of the similarity of the provisions, decisions under former Article 9 are included in the annotations for this Code section. For a table of comparable provisions, see the table at the beginning of the Article.   Necessity for new value.   - Where additional collateral is given to secure antecedent debt, new value is not necessary before security interest will attach. However, where there is purchase money security interest in crop to be grown, new value is necessary. United States v. Big Z Whse., 311 F. Supp. 283 (S.D. Ga. 1970) (decided under former Code Section 11-9-312).   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 15, 70, 71, 96-100, 106, 149, 231 et seq., 248, 291, 293, 310, 311, 313, 440-467, 780-791, 836-868.   Value of Growing Crop, 20 POF2d 115.   C.J.S.   - 72 C.J.S., Pledges, § 23.
GA Code § 11-9-323 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-323. Future Advances

  When priority based on time of advance. Except as otherwise provided in subsection (b) of this Code section, for purposes of determining the priority of a perfected security interest under paragraph (1) of subsection (a) of Code Section 11-9-322, perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:   Is made while the security interest is perfected only:   Under Code Section 11-9-309 when it attaches; or   Temporarily under subsection (e), (f), or (g) of Code Section 11-9-312; and     Is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under Code Section 11-9-309 or subsection (e), (f), or (g) of Code Section 11-9-312.     Buyer of receivables. Subsection (a) of this Code section does not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.   Buyer of goods. Except as otherwise provided in subsection (d) of this Code section, a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:   The time the secured party acquires knowledge of the buyer's purchase; or   Forty-five days after the purchase.     Advances made pursuant to commitment; priority of buyer of goods. Subsection (c) of this Code section does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the 45 day period.   Lessee of goods. Except as otherwise provided in subsection (f) of this Code section, a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:   The time the secured party acquires knowledge of the lease; or   Forty-five days after the lease contract becomes enforceable.     Advances made pursuant to commitment; priority of lessee of goods. Subsection (e) of this Code section does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45 day period.     (Code 1981, §11-9-323, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-323.