§ 11-9-316. Effect of Change in Governing Law
General rule; effect on perfection of change in governing law. A security interest perfected pursuant to the law of the jurisdiction designated in paragraph (1) of Code Section 11-9-301 or subsection (c) of Code Section 11-9-305 remains perfected until the earliest of: The time perfection would have ceased under the law of that jurisdiction; […]
§ 11-9-317. Interests That Take Priority Over or Take Free of Security Interest or Agricultural Lien
Conflicting security interests and rights of lien creditors. A security interest or agricultural lien is subordinate to the rights of: A person entitled to priority under Code Section 11-9-322; and Except as otherwise provided in subsection (e) of this Code section, a person that becomes a lien creditor before the earlier of the time: […]
§ 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 […]
§ 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 […]
§ 11-9-320. Buyer of Goods
Buyer in ordinary course of business. Except as otherwise provided in subsection (e) of this Code section, a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer’s seller, even if the security interest […]
§ 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 […]
§ 11-9-322. Priorities Among Conflicting Security Interests in and Agricultural Liens on Same Collateral
General priority rules. Except as otherwise provided in this Code section, priority among conflicting security interests and agricultural liens in the same collateral is determined according to the following rules: Conflicting perfected security interests and agricultural liens rank according to priority in time of filing or perfection. Priority dates from the earlier of the […]
§ 11-9-307. Location of Debtor
“Place of business.” As used in this Code section, the term “place of business” means a place where a debtor conducts its affairs. Debtor’s location; general rules. Except as otherwise provided in this Code section, the following rules determine a debtor’s location: A debtor who is an individual is located at the individual’s […]
§ 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 […]
§ 11-9-308. When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection
Perfection of security interest. Except as otherwise provided in this Code section and Code Section 11-9-309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in Code Sections 11-9-310 through 11-9-316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements […]