2010 Georgia Code
TITLE 11 - COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
PART 7 - TRANSITION
§ 11-9-704 - Security interest unperfected before effective date
. Security interest unperfected before effective date.
A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time:
(1) Remains an enforceable security interest on and for one year after July 1, 2001;
(2) Remains enforceable thereafter if the security interest becomes enforceable under Code Section 11-9-203
on July 1, 2001, or within one year thereafter; and
(3) Becomes perfected:
(A) Without further action, on July 1, 2001, if the applicable requirements for perfection under this article are satisfied before or at that time; or
(B) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
Graham Syfert - Jacksonville Lawyer