reglab/housing_qa huggingface dataset:
GA Code § 11-9-325 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-325. Priority of Security Interests in Transferred Collateral

  Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b) of this Code section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:   The debtor acquired the collateral subject to the security interest created by the other person;   The security interest created by the other person was perfected when the debtor acquired the collateral; and   There is no period thereafter when the security interest is unperfected.     Limitation of subsection (a) of this Code section subordination. Subsection (a) of this Code section subordinates a security interest only if the security interest:   Otherwise would have priority solely under subsection (a) of Code Section 11-9-322 or Code Section 11-9-324; or   Arose solely under subsection (3) of Code Section 11-2-711 or subsection (5) of Code Section 11-2A-508.       (Code 1981, §11-9-325, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-325.
GA Code § 11-9-326 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-326. Priority of Security Interests Created by New Debtor

  Subordination of security interest created by new debtor. Subject to subsection (b) of this Code section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but for the application of paragraph (1) of subsection (i) of Code Section 11-9-316 or Code Section 11-9-508 is subordinate to a security interest in the same collateral which is perfected other than by such a filed financing statement.   Priority under other provisions; multiple original debtors. The other provisions of this part determine the priority among conflicting security interests in the same collateral perfected by filed financing statements described in subsection (a) of this Code section. However, if the security agreements to which a new debtor became bound as debtor were not entered into by the same original debtor, the conflicting security interests rank according to priority in time of the new debtor's having become bound.     (Code 1981, §11-9-326, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2013, p. 690, § 7/SB 185.)    The 2013 amendment,  effective July 1, 2013, rewrote subsection (a), which formerly read: " Subordination of security interests created by new debtor. Subject to subsection (b) of this Code section, a security interest created by a new debtor which is perfected by a filed financing statement that is effective solely under Code Section 11-9-508 in collateral in which a new debtor has or acquires rights is subordinate to a security interest in the same collateral which is perfected other than by a filed financing statement that is effective solely under Code Section 11-9-508."; and substituted "described in subsection (a) of this Code section" for "that are effective solely under Code Section 11-9-508" in the first sentence of subsection (b).   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-326.
GA Code § 11-9-327 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-327. Priority of Security Interests in Deposit Account

 The following rules govern priority among conflicting security interests in the same deposit account:    A security interest held by a secured party having control of the deposit account under Code Section 11-9-104 has priority over a conflicting security interest held by a secured party that does not have control;   Except as otherwise provided in paragraphs (3) and (4) of this Code section, security interests perfected by control under Code Section 11-9-314 rank according to priority in time of obtaining control;   Except as otherwise provided in paragraph (4) of this Code section, a security interest held by the bank with which the deposit account is maintained has priority over a conflicting security interest held by another secured party; and   A security interest perfected by control under paragraph (3) of subsection (a) of Code Section 11-9-104 has priority over a security interest held by the bank with which the deposit account is maintained.     (Code 1981, §11-9-327, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-327.
GA Code § 11-9-328 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-328. Priority of Security Interests in Investment Property

 The following rules govern priority among conflicting security interests in the same investment property:    A security interest held by a secured party having control of investment property under Code Section 11-9-106 has priority over a security interest held by a secured party that does not have control of the investment property;   Except as otherwise provided in paragraphs (3) and (4) of this Code section, conflicting security interests held by secured parties each of which has control under Code Section 11-9-106 rank according to priority in time of:   If the collateral is a security, obtaining control;   If the collateral is a security entitlement carried in a securities account and:   If the secured party obtained control under paragraph (1) of subsection (d) of Code Section 11-8-106, the secured party's becoming the person for which the securities account is maintained;   If the secured party obtained control under paragraph (2) of subsection (d) of Code Section 11-8-106, the securities intermediary's agreement to comply with the secured party's entitlement orders with respect to security entitlements carried or to be carried in the securities account; or   If the secured party 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 paragraph if the other person were the secured party; or     If the collateral is a commodity contract carried with a commodity intermediary, the satisfaction of the requirement for control specified in paragraph (2) of subsection (b) of Code Section 11-9-106 with respect to commodity contracts carried or to be carried with the commodity intermediary;     A security interest held by a securities intermediary in a security entitlement or a securities account maintained with the securities intermediary has priority over a conflicting security interest held by another secured party;   A security interest held by a commodity intermediary in a commodity contract or a commodity account maintained with the commodity intermediary has priority over a conflicting security interest held by another secured party;   A security interest in a certificated security in registered form which is perfected by taking delivery under subsection (a) of Code Section 11-9-313 and not by control under Code Section 11-9-314 has priority over a conflicting security interest perfected by a method other than control;   Conflicting security interests created by a broker, securities intermediary, or commodity intermediary which are perfected without control under Code Section 11-9-106 rank equally; and   In all other cases, priority among conflicting security interests in investment property is governed by Code Sections 11-9-322 and 11-9-323.     (Code 1981, §11-9-328, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-328.
GA Code § 11-9-329 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-329. Priority of Security Interests in Letter of Credit Right

 The following rules govern priority among conflicting security interests in the same letter of credit right:    A security interest held by a secured party having control of the letter of credit right under Code Section 11-9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control; and   Security interests perfected by control under Code Section 11-9-314 rank according to priority in time of obtaining control.     (Code 1981, §11-9-329, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-329.
GA Code § 11-9-330 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-330. Priority of Purchaser of Chattel Paper or Instrument

  Purchaser's priority; security interest claimed merely as proceeds. A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a security interest if:   In good faith and in the ordinary course of the purchaser's business, the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under Code Section 11-9-105; and   The chattel paper does not indicate that it has been assigned to an identified assignee other than the purchaser.     Purchaser's priority; other security interests. A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed other than merely as proceeds of inventory subject to a security interest if the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under Code Section 11-9-105 in good faith, in the ordinary course of the purchaser's business, and without knowledge that the purchase violates the rights of the secured party.   Chattel paper purchaser's priority in proceeds. Except as otherwise provided in Code Section 11-9-327, a purchaser having priority in chattel paper under subsection (a) or (b) of this Code section also has priority in proceeds of the chattel paper to the extent that:   Code Section 11-9-322 provides for priority in the proceeds; or   The proceeds consist of the specific goods covered by the chattel paper or cash proceeds of the specific goods, even if the purchaser's security interest in the proceeds is unperfected.     Instrument purchaser's priority. Except as otherwise provided in subsection (a) of Code Section 11-9-331, a purchaser of an instrument has priority over a security interest in the instrument perfected by a method other than possession if the purchaser gives value and takes possession of the instrument in good faith and without knowledge that the purchase violates the rights of the secured party.   Holder of purchase money security interest gives new value. For purposes of subsections (a) and (b) of this Code section, the holder of a purchase money security interest in inventory gives new value for chattel paper constituting proceeds of the inventory.   Indication of assignment gives knowledge. For purposes of subsections (b) and (d) of this Code section, if chattel paper or an instrument indicates that it has been assigned to an identified secured party other than the purchaser, a purchaser of the chattel paper or instrument has knowledge that the purchase violates the rights of the secured party.     (Code 1981, §11-9-330, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 43-55, 85-100, 550, 796-807, 819, 895-930.   C.J.S.   - 6A C.J.S., Assignments, §§ 79, 80, 85. 72 C.J.S., Pledges, § 42.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-330.
GA Code § 11-9-331 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-331. Priority of Rights of Purchasers of Instruments, Documents, and Securities Under Other Articles; Priority of Interests in Financial Assets and Security Entitlements Under Article 8 of This Title

  Rights under Articles 3, 7, and 8 of this title not limited. This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Articles 3, 7, and 8 of this title.   Protection under Article 8 of this title. This article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Article 8 of this title.   Filing not notice. Filing under this article does not constitute notice of a claim or defense to the holders or purchasers or persons described in subsections (a) and (b) of this Code section.     (Code 1981, §11-9-331, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 49, 55, 109, 225-230, 269, 444-455, 550, 895-909.   C.J.S.   - 6A C.J.S., Assignments, § 101. 72 C.J.S., Pledges, § 43.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-331.   ALR.    - Rights as between holder of 'trust receipt' and purchaser of goods from one who gave it, 31 A.L.R. 937.
GA Code § 11-9-332 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-332. Transfer of Money; Transfer of Funds From Deposit Account

  Transferee of money. A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party.   Transferee of funds from deposit account. A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party.     (Code 1981, §11-9-332, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-332.
GA Code § 11-9-336 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-336. Commingled Goods

  "Commingled goods." As used in this Code section, the term "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass.   No security interest in commingled goods as such. A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass that results when goods become commingled goods.   Attachment of security interest to product or mass. If collateral becomes commingled goods, a security interest attaches to the product or mass.   Perfection of security interest. If a security interest in collateral is perfected before the collateral becomes commingled goods, the security interest that attaches to the product or mass under subsection (c) of this Code section is perfected.   Priority of security interest. Except as otherwise provided in subsection (f) of this Code section, the other provisions of this part determine the priority of a security interest that attaches to the product or mass under subsection (c) of this Code section.   Conflicting security interests in product or mass. If more than one security interest attaches to the product or mass under subsection (c) of this Code section, the following rules determine priority:   A security interest that is perfected under subsection (d) of this Code section has priority over a security interest that is unperfected at the time the collateral becomes commingled goods; and   If more than one security interest is perfected under subsection (d) of this Code section, the security interests rank equally in proportion to the value of the collateral at the time it became commingled goods.       (Code 1981, §11-9-336, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 58, 955-961.   C.J.S.   - 15A C.J.S., Confusion of Goods, §§ 3-9.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-336.
GA Code § 11-9-337 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-337. Priority of Security Interests in Goods Covered by Certificate of Title

 If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate:    A buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and   The security interest is subordinate to a conflicting security interest in the goods that attaches and is perfected under subsection (b) of Code Section 11-9-311, after issuance of the certificate and without the conflicting secured party's knowledge of the security interest.     (Code 1981, §11-9-337, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-337.   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 § 11-9-338 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-338. Priority of Security Interest or Agricultural Lien Perfected by Filed Financing Statement Providing Certain Incorrect Information

 If a security interest or agricultural lien is perfected by a filed financing statement providing information described in paragraph (5) of subsection (b) of Code Section 11-9-516 which is incorrect at the time the financing statement is filed:    The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and   A purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.     (Code 1981, §11-9-338, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2010, p. 481, § 2-29/HB 451.)    The 2010 amendment,  effective May 27, 2010, substituted "tangible chattel paper, tangible documents" for "chattel paper, documents" near the end of paragraph (2). See the Editor's notes for applicability.   Editor's notes.   - Ga. L. 2010, p. 481, § 3-1, not codified by the General Assembly, provides that: "This Act applies to a document of title that is issued or a bailment that arises on or after the effective date of this Act. This Act does not apply to a document of title that is issued or a bailment that arises before the effective date of this Act even if the document of title or bailment would be subject to this Act if the document of title had been issued or bailment had arisen on or after the effective date of this Act. This Act does not apply to a right of action that has accrued before the effective date of this Act." This Act became effective May 27, 2010.   Ga. L. 2010, p. 481, § 3-2, not codified by the General Assembly, provides that: "A document of title issued or a bailment that arises before the effective date of this Act and the rights, documents, and interests flowing from that document or bailment are governed by any statute or other rule amended or repealed by this Act as if such amendment or repeal had not occurred and may be terminated, completed, consummated, or enforced under that statute or other rule." This Act became effective May 27, 2010.   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-338.
GA Code § 11-9-339 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-339. Priority Subject to Subordination

 This article does not preclude subordination by agreement by a person entitled to priority.    (Code 1981, §11-9-339, enacted by Ga. L. 2001, p. 362, § 1.)   Cross references.   - Subordination of obligations, § 11-1-209.   RESEARCH REFERENCES   Am. Jur. 2d.   - 68A Am. Jur. 2d, Secured Transactions, §§ 160 et seq., 792-795.   C.J.S.   - 72 C.J.S., Pledges, § 23.   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-339.    PART 4  RIGHTS OF BANK
GA Code § 11-9-340 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-340. Effectiveness of Right of Recoupment or Set-Off Against Deposit Account

  Exercise of recoupment or set-off. Except as otherwise provided in subsection (c) of this Code section, a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account.   Recoupment or set-off not affected by security interest. Except as otherwise provided in subsection (c) of this Code section, the application of this article to a security interest in a deposit account does not affect a right of recoupment or set-off of the secured party as to a deposit account maintained with the secured party.   When set-off ineffective. The exercise by a bank of a set-off against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under paragraph (3) of subsection (a) of Code Section 11-9-104, if the set-off is based on a claim against the debtor.     (Code 1981, §11-9-340, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-340.
GA Code § 11-9-341 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-341. Bank's Rights and Duties With Respect to Deposit Account

 Except as otherwise provided in subsection (c) of Code Section 11-9-340, and unless the bank otherwise agrees in an authenticated record, a bank's rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:    The creation, attachment, or perfection of a security interest in the deposit account;   The bank's knowledge of the security interest; or   The bank's receipt of instructions from the secured party.     (Code 1981, §11-9-341, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-341.
GA Code § 11-9-342 (2021)
2021 Georgia Code|Title 11 - Commercial Code|Article 9 - Secured Transactions|Part 3 - Perfection and Priority|§ 11-9-342. Bank's Right to Refuse to Enter Into or Disclose Existence of Control Agreement

 This article does not require a bank to enter into an agreement of the kind described in paragraph (2) of subsection (a) of Code Section 11-9-104, even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.    (Code 1981, §11-9-342, enacted by Ga. L. 2001, p. 362, § 1.)   RESEARCH REFERENCES   U.L.A.   - Uniform Commercial Code (U.L.A.) § 9-342.