Public-domain · open source
OpenJurist

O.C.G.A. § 11-1-309

Option to accelerate at will

Code 1981, § 11-1-309, enacted by Ga

A term providing that one party or that party’s successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure” or words of similar import shall be construed to mean that the party shall have power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of estab-

lishing lack of good faith is on the party against whom the power has been exercised.

Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.