reglab/housing_qa huggingface dataset:
GA Code § 11-8-510 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 8 - Investment Securities|Part 5 - Security Entitlements|§ 11-8-510. Rights of Purchaser of Security Entitlement From Entitlement Holder

  In a case not covered by the priority rules in Article 9 of this title or the rules stated in subsection (c) of this Code section, an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who purchases a security entitlement, or an interest therein, from an entitlement holder if the purchaser gives value, does not have notice of the adverse claim, and obtains control.   If an adverse claim could not have been asserted against an entitlement holder under Code Section 11-8-502, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder.   In a case not covered by the priority rules in Article 9 of this title, a purchaser for value of a security entitlement, or an interest therein, who obtains control has priority over a purchaser of a security entitlement, or an interest therein, who does not obtain control. Except as otherwise provided in subsection (d) of this Code section, purchasers who have control rank according to priority in time of:   The purchaser's becoming the person for whom the securities account, in which the security entitlement is carried, is maintained, if the purchaser obtained control under paragraph (1) of subsection (d) of Code Section 11-8-106;   The securities intermediary's agreement to comply with the purchaser's entitlement orders with respect to security entitlements carried or to be carried in the securities account in which the security entitlement is carried, if the purchaser obtained control under paragraph (2) of subsection (d) of Code Section 11-8-106; or   If the purchaser obtained control through another person under paragraph (3) of subsection (d) of Code Section 11-8-106, the time on which priority would be based under this subsection if the other person were the secured party.     A securities intermediary as purchaser has priority over a conflicting purchaser who has control unless otherwise agreed by the securities intermediary.     (Code 1981, §11-8-510, enacted by Ga. L. 1998, p. 1323, § 1; Ga. L. 2001, p. 362, § 22.)    The 2001 amendment,  effective July 1, 2001, in subsection (a), substituted "In a case not covered by the priority rules in Article 9 of this title or the rules stated in subsection (c) of this Code section, an" for "An" at the beginning; rewrote subsection (c); designated subsection (d); and added "A securities" at the beginning of subsection (d).   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 8-510.
GA Code § 11-8-511 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 8 - Investment Securities|Part 5 - Security Entitlements|§ 11-8-511. Priority Among Security Interests and Entitlement Holders

  Except as otherwise provided in subsections (b) and (c) of this Code section, if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor.   A claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the securities intermediary's entitlement holders who have security entitlements with respect to that financial asset if the creditor has control over the financial asset.   If a clearing corporation does not have sufficient financial assets to satisfy both its obligations to entitlement holders who have security entitlements with respect to a financial asset and its obligation to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders.     (Code 1981, §11-8-511, enacted by Ga. L. 1998, p. 1323, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 8-511.
GA Code § 11-8-601 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 8 - Investment Securities|Part 6 - Transition Provisions for Revised Article 8 and Conforming Amendments to Articles 1, 3, 4, 5, 9, and 10|§ 11-8-601. Effective Date

 This Act takes effect July 1, 1998.    (Code 1981, §11-8-601, enacted by Ga. L. 1998, p. 1323, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 8-601.
GA Code § 11-8-602 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 8 - Investment Securities|Part 6 - Transition Provisions for Revised Article 8 and Conforming Amendments to Articles 1, 3, 4, 5, 9, and 10|§ 11-8-602. Repeals

 Reserved. Repealed by Ga. L. 2010, p. 579, § 5, effective July 1, 2010.   Editor's notes.   - This Code section was based on Code 1981, § 11-8-602, enacted by Ga. L. 1998, p. 1323, § 1.
GA Code § 11-8-603 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 8 - Investment Securities|Part 6 - Transition Provisions for Revised Article 8 and Conforming Amendments to Articles 1, 3, 4, 5, 9, and 10|§ 11-8-603. Savings Clause

  This Act does not affect an action or proceeding commenced before this Act takes effect.   If a security interest in a security is perfected at the date this Act takes effect, and the action by which the security interest was perfected would suffice to perfect a security interest under this Act, no further action is required to continue perfection. If a security interest in a security is perfected at the date this Act takes effect but the action by which the security interest was perfected would not suffice to perfect a security interest under this Act, the security interest remains perfected for a period of four months after the effective date and continues perfected thereafter if appropriate action to perfect under this Act is taken within that period. If a security interest is perfected at the date this Act takes effect and the security interest can be perfected by filing under this Act, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.     (Code 1981, §11-8-603, enacted by Ga. L. 1998, p. 1323, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 8-603.
GA Code § 11-9-101 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-101. Short Title

 This article may be cited as "Uniform Commercial Code - Secured Transactions."    (Code 1981, §11-9-101, enacted by Ga. L. 2001, p. 362, § 1.)   Law reviews.   - For comment, "Electronic Self-Help Repossession and You: A Computer Software Vendor's Guide to Staying Out of Jail," see 48 Emory L.J. 1477 (1999).   JUDICIAL DECISIONS    Cited in Motors Acceptance Corp. v. Rozier, 278 Ga. 52, 597 S.E.2d 367 (2004).   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, § 123 et seq.   Violation of the Truth-In-Lending Act and Regulation Z, 73 POF3d 275.   C.J.S.   - 6A C.J.S., Assignments, §§ 82, 87. 8 C.J.S., Bailments, § 42. 14 C.J.S., Chattel Mortgages, §§ 2, 311 et seq. 35 C.J.S., Factors, § 46 et seq. 53 C.J.S., Liens, § 2 et seq. 72 C.J.S., Pledges, §§ 5, 43 et seq.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-101.   ALR.   - What constitutes Truth in Lending Act violation which "was not intentional and resulted from bona fide error not withstanding maintenance of procedures reasonably adapted to avoid any such error" within meaning of § 130(c) of Act (15 USCA § 1640(c)), 153 A.L.R. Fed. 193.   Consignment transactions under Uniform Commercial Code Article 9 on secured transactions, 58 A.L.R.6th 289.
GA Code § 11-9-104 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-104. Control of Deposit Account

  Requirements for control. A secured party has control of a deposit account if:   The secured party is the bank with which the deposit account is maintained;   The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or   The secured party becomes the bank's customer with respect to the deposit account.     Debtor's right to direct disposition. A secured party that has satisfied subsection (a) of this Code section has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.     (Code 1981, §11-9-104, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-104.
GA Code § 11-9-105 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-105. Control of Electronic Chattel Paper

  General rule; control of electronic chattel paper. A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.   Specific facts giving control. A system satisfies the provisions of subsection (a) of this Code section if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:   A single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6) of this subsection, unalterable;   The authoritative copy identifies the secured party as the assignee of the record or records;   The authoritative copy is communicated to and maintained by the secured party or its designated custodian;   Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;   Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and   Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.       (Code 1981, §11-9-105, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2013, p. 690, § 2/SB 185.)    The 2013 amendment,  effective July 1, 2013, designated the existing provisions as subsections (a) and (b); in subsection (a), added the subsection heading and added "if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned" at the end; in the introductory language of subsection (b), added the subsection heading and "A system satisfies the provisions of subsection (a) of this Code section" at the beginning; substituted "subsection" for "Code section" in paragraph (b)(1); in paragraph (b)(4), substituted "amendments" for "revisions" near the beginning and substituted "consent" for "participation" near the end; and, in paragraph (b)(6), substituted "amendment" for "revision" near the beginning and substituted "as authorized or unauthorized" for "an authorized or unauthorized revision" at the end.   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-105.
GA Code § 11-9-106 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-106. Control of Investment Property

  Control under Code Section 11-8-106. A person has control of a certificated security, uncertificated security, or security entitlement as provided in Code Section 11-8-106.   Control of commodity contract. A secured party has control of a commodity contract if:   The secured party is the commodity intermediary with which the commodity contract is carried; or   The commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.     Effect of control of securities account or commodity account. A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.     (Code 1981, §11-9-106, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-106.
GA Code § 11-9-107 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-107. Control of Letter of Credit Right

 A secured party has control of a letter of credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under subsection (c) of Code Section 11-5-114 or otherwise applicable law or practice.    (Code 1981, §11-9-107, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-107.
GA Code § 11-9-110 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-110. Security Interests Arising Under Article 2 or 2a of This Title

 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 is subject to this article. However, until the debtor obtains possession of the goods:    The security interest is enforceable, even if paragraph (3) of subsection (b) of Code Section 11-9-203 has not been satisfied;   Filing is not required to perfect the security interest;   The rights of the secured party after default by the debtor are governed by Article 2 or 2A of this title; and   The security interest has priority over a conflicting security interest created by the debtor.     (Code 1981, §11-9-110, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-110.
GA Code § 11-9-111 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 1 - General Provisions|§ 11-9-111. Applicability of Bulk Transfer Laws

 Repealed by Ga. L. 2015, p. 996, § 3D-2/SB 65, effective July 1, 2015.   Editor's notes.   - This Code section was based on Code 1981, § 11-9-111, enacted by Ga. L. 2001, p. 362, § 1.
GA Code § 11-9-201 (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|§ 11-9-201. General Effectiveness of Security Agreement

  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.   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.   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.   Further deference to other applicable law. This article does not:   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   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.
GA Code § 11-9-202 (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|§ 11-9-202. Title to Collateral Immaterial

 Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor.    (Code 1981, §11-9-202, enacted by Ga. L. 2001, p. 362, § 1.)   Law reviews.   - For article discussing the resolution of conflicting claims to goods between an unsecured seller of goods and a creditor of a buyer claiming under an after-acquired property clause, see 28 Mercer L. Rev. 625 (1977).   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, § 192 et seq.   C.J.S.   - 72 C.J.S., Pledges, § 21.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-202.   ALR.    - Forfeiture by innocent vendor of article sold conditionally and used by vendee in violation of law, 2 A.L.R. 1596.    Personal liability for mortgage debt of real owner who procures mortgage to be executed by another, 25 A.L.R. 1486.    Claim of lien by conditional vendor as waiver of title, 45 A.L.R. 185.   Rights and duties of parties to conditional sales contract as to resale of repossessed property, 49 A.L.R.2d 15.
GA Code § 11-9-204 (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|§ 11-9-204. After Acquired Property; Future Advances

  After acquired collateral. Except as otherwise provided in subsection (b) of this Code section, a security agreement may create or provide for a security interest in after acquired collateral.   When after acquired property clause not effective. A security interest does not attach under a term constituting an after acquired property clause to:   Consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten days after the secured party gives value; or   A commercial tort claim.     Future advances and other value. A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment.     (Code 1981, §11-9-204, enacted by Ga. L. 2001, p. 362, § 1.)   Law reviews.   - For article on the 1963 amendment to the Georgia Uniform Commercial Code, see 14 Mercer L. Rev. 378 (1963). For article discussing the classification of a continuing security interest in changing collateral as an unenforceable preference under Section 60a of the Bankruptcy Act, see 1 Ga. L. Rev. 257 (1967). For article "The Good Faith Purchase Idea and the Uniform Commercial Code," see 15 Ga. L. Rev. 605 (1981). For note examining the conflict between the floating lien in after-acquired property under the Uniform Commercial Code and the voidable preferences provisions of the Bankruptcy Act, see 9 Ga. L. Rev. 685 (1975).   JUDICIAL DECISIONS   ANALYSIS    General Consideration   After-Acquired Property   Consumer Goods   Future Advances    RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 85 et seq., 174 et seq., 234 et seq.   C.J.S.   - 72 C.J.S., Pledges, § 22.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-204.   ALR.    - What are "minerals" within deed, lease, or license, 17 A.L.R. 156; 86 A.L.R. 983.   Construction and effect of "future advances" clauses under UCC Article 9, 90 A.L.R.4th 859.
GA Code § 11-9-205 (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|§ 11-9-205. Use or Disposition of Collateral Permissible

  When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because:   The debtor has the right or ability to:   Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;   Collect, compromise, enforce, or otherwise deal with collateral;   Accept the return of collateral or make repossessions; or   Use, commingle, or dispose of proceeds; or     The secured party fails to require the debtor to account for proceeds or replace collateral.     Requirements of possession not relaxed. This Code section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.     (Code 1981, §11-9-205, enacted by Ga. L. 2001, p. 362, § 1.)   Law reviews.   - For article discussing the classification of a continuing security interest in changing collateral as an unenforceable preference under Section 60a of the Bankruptcy Act, see 1 Ga. L. Rev. 257 (1967). For article, "The Good Faith Purchase Idea and the Uniform Commercial Code," see 15 Ga. L. Rev. 605 (1981). For note examining the conflict between the floating lien in after-acquired property under the Uniform Commercial Code and the voidable preferences provisions of the Bankruptcy Act, see 9 Ga. L. Rev. 685 (1975).   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.   Floating liens on inventory.    - Floating liens against inventory, except insofar as security instrument itself may stipulate otherwise, are valid and debtor has no legal responsibility for keeping property or proceeds from sale sequestered. Sowards v. State, 137 Ga. App. 423, 224 S.E.2d 85 (1976) (decided under former Code Section11-9-205).   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, § 510.   C.J.S.   - 37 C.J.S., Fraudulent Conveyances, § 159.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-205.   ALR.   - Necessity and sufficiency of notice or statement prescribed by factor's lien law, 96 A.L.R.2d 727.   Uniform Commercial Code: Burden of proof as to commercially reasonable disposition of collateral, 59 A.L.R.3d 369.   Uniform Commercial Code: failure of secured creditor to give required notice of disposition of collateral as bar to deficiency judgment, 59 A.L.R.3d 401.