§ 11-9-310. When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply

1. General rule; perfection by filing.    Except as otherwise provided in subsection (b) of this Code section and subsection (b) of Code Section 11-9-312, a financing statement must be filed to perfect all security interests and agricultural liens.
2. Exceptions; filing not necessary.    The filing of a financing statement is not necessary to perfect a security interest:
   1. That is perfected under subsection (d), (e), (f), or (g) of Code Section 11-9-308;
   2. That is perfected under Code Section 11-9-309 when it attaches;
   3. In property subject to a statute, regulation, or treaty described in subsection (a) of Code Section 11-9-311;
   4. In goods in possession of a bailee which is perfected under paragraph (1) or (2) of subsection (d) of Code Section 11-9-312;
   5. In certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under subsection (e), (f), or (g) of Code Section 11-9-312;
   6. In collateral in the secured party’s possession under Code Section 11-9-313;
   7. In a certificated security which is perfected by delivery of the security certificate to the secured party under Code Section 11-9-313;
   8. In deposit accounts, electronic chattel paper, electronic documents, investment property, or letter of credit rights which is perfected by control under Code Section 11-9-314;
   9. In proceeds which is perfected under Code Section 11-9-315; or
   10. That is perfected under Code Section 11-9-316.
3. Assignment of perfected security interest.    If a secured party assigns a perfected security interest or agricultural lien, a filing under this article is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor.

History. Code 1981, § 11-9-310 , enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2010, p. 481, § 2-24/HB 451.

Editor’s notes.

Ga. L. 2010, p. 481, § 3-1/HB 451, 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/HB 451, 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.

Law reviews.

For comment on Maley v. National Acceptance Co., 250 F. Supp. 841 (N.D. Ga. 1966), see 3 Ga. St. B.J. 248 (1966).

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, “Security Transfers by Secured Parties,” see 4 Ga. L. Rev. 527 (1970).

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).

For article, “Commercial Law,” see 53 Mercer L. Rev. 153 (2001).