Georgia Law Review, Vol. 37, No. 1 (Fall 2002), pp. 205-266

Abstract

Article 9 of the Uniform Commercial Code governs secured transactions in personal property and fixtures. In 1990, the sponsors of the U.C.C. launched a major revision project, which culminated in Revised Article 9. Judged by the marketplace of state legislatures, the project turned out to be a remarkable success story of law reform. Between 1998 and 2001, all fifty states plus the District of Columbia enacted Revised Article 9. In Georgia, the revision process began in 1999 with the State Bar of Georgia's appointment of the Revised Article 9 Subcommittee of the Business Law Section. The seventeen-member committee, composed of leading transactional lawyers, met numerous times from June 1999 to March 2001, undertaking a comprehensive study of Georgia's existing Article 9 and the proposed Revised Article 9. Due to the stellar leadership of its chairperson, Dana Kull of Hunton & Williams, the committee's work culminated in the Georgia legislature's passage of House Bill 191 (the "Georgia Act") on March 19, 2001. The Georgia Act adopted Revised Article 9 with an effective date of July 1, 2001. This Article focuses on the nonuniform provisions contained in, and removed by, the Georgia Act.