(a)Pre-effective date transaction, lien, or interest. Except as provided in this part, Article 9 of this title as amended by the Uniform Commercial Code Modernization Act of 2024 and Article 12 of this title apply to a transaction, lien, or other interest in property, even if the transaction, lien, or interest was entered into, created, or acquired before July 1, 2024.(b)Continuing validity. Except as provided in subsection (c) of this Code section and Code Sections 11-12A-302 through 11-12A-306: (1) A transaction, lien, or interest in property that was validly entered into, created, or transferred before July 1, 2024, and was not governed by this title, but would be subject to Article 9 of this title as amended by the Uniform Commercial Code Modernization Act of 2024 or Article 12 of this title if it had been entered into, created, or transferred on or after July 1, 2024, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after July 1, 2024; and(2) The transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by the Uniform Commercial Code Modernization Act of 2024 after July 1, 2024; and(2) The transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by the Uniform Commercial Code Modernization Act of 2024 or by the law that would apply if the Uniform Commercial Code Modernization Act of 2024 had not taken effect.(c)Pre-effective date proceeding. The Uniform Commercial Code Modernization Act of 2024 does not affect an action, case, or proceeding commenced before July 1, 2024.Added by 2024 Ga. Laws 600,§ 4-1, eff. 7/1/2024.
Georgia Legal Code