Georgia § 11-3-304 - Overdue instrument.
Full text of Georgia Official Code of Georgia Annotated § 11-3-304 — Overdue instrument., with citation guidance and answers to common questions.
§ 11-3-304. Overdue instrument.
An instrument payable on demand becomes overdue at the earliest of the following times: On the day after the day demand for payment is duly made; If the instrument is a check, 90 days after its date; or If the instrument is not a check, when the instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade. With respect to an instrument payable at a definite time the following rules apply: If the principal is payable in installments and a due date has not been accelerated, the instrument becomes overdue upon default under the instrument for nonpayment of an installment, and the instrument remains overdue until the default is cured; If the principal is not payable in installments and the due date has not been accelerated, the instrument becomes overdue on the day after the due date; or If a due date with respect to principal has been accelerated, the instrument becomes overdue on the day after the accelerated due date. Unless the due date of principal has been accelerated, an instrument does not become overdue if there is default in payment of interest but no default in payment of principal. (Code 1981, § 11-3-304 , enacted by Ga. L. 1996, p. 1306, § 3.)
Frequently Asked Questions About Georgia § 11-3-304
What does Official Code of Georgia Annotated § 11-3-304 cover?
Section 11-3-304 ("Overdue instrument.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 11-3-304?
A common citation format is "Official Code of Georgia Annotated § 11-3-304" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 11-3-304 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.