Mortgages; deed to secure debt which conveys as security for a loan or obligation for one or more lots in residential development subject to covenants and property owners' association; provide

A BILL to be entitled an Act to amend Article 1 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, relating to general provisions regarding mortgages, conveyances to secure debt, and liens, so as to provide that a deed to secure debt which conveys as security for a loan or obligation one or more lots in a residential development that is subject to covenants and a property owners' association and which covenants are properly filed and recorded shall be subject to and subordinate to such covenants; to provide for related matters; to provide an effective date; to repeal conflicting laws; and for other purposes.