The first Act (which came from HB 244) requires that Uniform Commercial Code financing statements, amendment statements, continuation statements, termination statements, assignment of rights, and release of collateral be presented for filing on forms prescribed by the Georgia Superior Court Clerks' Cooperative Authority. The Act also provides for the creation of a central indexing system for these documents which will be administered by the Georgia Superior Court Clerks' Cooperative Authority. The second Act (which came from HB 75) assists farmers in getting new loans to plant crops by giving certain new security interests, regardless of whether or not the earlier debts were due to be paid at the time the new loans were made.
Georgia State University Law Review,
COMMERCIAL CODE Revisions to Article 9 Filing: Require Filing Statements and Central Indexing Priority Among Conflicting Security Interests,
Ga. St. U. L. Rev.
Available at: https://readingroom.law.gsu.edu/gsulr/vol10/iss1/36