Section 11-9-301 - Law governing perfection and priority of security interestsExcept as otherwise provided in Code Sections 11-9-303 through 11-9-306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:
(1) Except as otherwise provided in this Code section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral;(2) While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral;(3) Except as otherwise provided in paragraph (4) of this Code section, while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs: (A) Perfection of a security interest in the goods by filing a fixture filing;(B) Perfection of a security interest in timber to be cut;(C) Perfection of a security interest in crops; and(D) The effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral; and(4) The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.Amended by 2010 Ga. Laws 470,§ 2-23, eff. 5/27/2010.Added by 2001 Ga. Laws 191, § 1, eff. 7/1/2001.