Title 11 — Commercial Code
0 chapters · 563 sections in this title.
O.C.G.A. § 11-9-509 Persons entitled to file a record
2.3K chars
(a) Person entitled to file record. A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if: 858 11-9-509 (1) The debtor authorizes the filing in an authenticated…
O.C.G.A. § 11-9-510 Effectiveness of filed record
0.6K chars
(a) Filed record effective if authorized. A filed record is effective only to the extent that it was filed by a person that may file it under Code Section 11-9-509. (b) Authorization by one secured party of record. A record authorized by one secured party of record does not affect t…
O.C.G.A. § 11-9-511 Secured party of record
1.1K chars
(a) Secured party of record. A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing sta…
O.C.G.A. § 11-9-512 Amendment of financing statement
1.7K chars
(a) Amendment of information in financing statement. Subject to Code Section 11-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this Code section, otherwise amend the information provided in a fin…
O.C.G.A. § 11-9-513 Termination statement
2.6K chars
(a) Consumer goods. A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (1) There is no obligation secured by the collateral covered by the …
O.C.G.A. § 11-9-514 Assignment of powers of secured party of record
0.8K chars
(a) Assignment reflected on initial financing statement. An initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address …
O.C.G.A. § 11-9-515 Mortgages
0.3K chars
Record of mortgage as financing statement, §11-9-515. Record of mortgage as fixture filing or financing statement, §11-9-502. 1011 INDEX COMMERCIAL CODE —Cont’d Secured transactions —Cont’d Financing statement —Cont’d Name of debtor and secured party, §11-9-503. Change of name, effec…
O.C.G.A. § 11-9-516 What constitutes filing; effectiveness of filing
3.6K chars
(a) What constitutes filing. Except as otherwise provided in subsection (b) of this Code section, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. (b) Refusal to accept record; filing does not…
O.C.G.A. § 11-9-517 Effect of indexing errors
0.2K chars
The failure of the filing office or authority to index a record correctly does not affect the effectiveness of the filed record. History. Code 1981, § 11-9-517, enacted by Ga. L. 2001, p. 362, § 1.
O.C.G.A. § 11-9-518 Filing office
2.5K chars
Contents of financing statement; record of mortgage as fixture filing or financing statement; time of filing financing statement. Name of debtor and secured party. Indication of collateral. Filing and compliance with other statutes and treaties for consignments, leases, other bailments…
O.C.G.A. § 11-9-520 Acceptance and refusal to accept record
1.4K chars
(a) Refusal to accept record. A filing office may refuse to accept a record for filing only for a reason set forth in subsection (b) of Code Section 11-9-516. (b) Communication concerning refusal. If a filing office refuses to accept a record for filing, it shall communicate to the p…
O.C.G.A. § 11-9-521 Filing-office rules, §11-9-526
0.1K chars
Defined, §11-9-102. Financial asset. Priority of certain interests in, §11-9-331. Purchase or delivery of.
O.C.G.A. § 11-9-522 Maintenance and destruction of records
1.0K chars
(a) Postlapse maintenance and retrieval of information. The authority shall maintain a record of the information provided in a filed record for at least one year after the effectiveness of such record or the initial financing statement to which such record relates has lapsed under …
O.C.G.A. § 11-9-523 Fees, §11-9-525
0.2K chars
Indexing, §11-9-519. Information from, §11-9-523. Maintenance of records, §11-9-522. Refusal to accept record, §§11-9-520, 11-9-521. Uniform form of written financing statement and amendment, §11-9-521. Filing-office rules, §11-9-526.
O.C.G.A. § 11-9-524 Delay by filing office or authority
0.5K chars
Delay by the filing office or authority beyond a time limit prescribed by this part is excused if: (1) The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing o…
O.C.G.A. § 11-9-525 Fees
0.6K chars
(a) Initial financing statement; general. Except as otherwise provided in subsection (b) of this Code section, the fees for filing a record under this part are the amounts specified in Article 2 of Chapter 6 of Title 15. (b) Fees of the Georgia Superior Court Clerks’ Cooperative Aut…
O.C.G.A. § 11-9-526 Rules
1.8K chars
(a) Adoption of filing office rules. The authority shall adopt and publish in print or electronically rules to implement this article, including rules to administer, maintain, and modify the central indexing system. The filing office rules must be consistent with this article. (b) …
O.C.G.A. § 11-9-602 Waiver and variance of rights and duties
2.1K chars
Except as otherwise provided in Code Section 11-9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: 885 11-9-602 (1) Subparagraph (b)…
O.C.G.A. § 11-9-603 Agreement on standards concerning rights and duties
0.5K chars
(a) Agreed standards. The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in Code Section 11-9-602 if the standards are not manifestly unreasonable. (b) Agreed sta…
O.C.G.A. § 11-9-605 Unknown debtor or secondary obligor
0.5K chars
A secured party does not owe a duty based on its status as secured party: (1) To a person that is a debtor or obligor, unless the secured party knows: (A) That the person is a debtor or obligor; (B) The identity of the person; and (C) How to communicate with the person; or (2) To…
O.C.G.A. § 11-9-606 Time of default for agricultural lien
0.3K chars
For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. History. Code 1981, § 11-9-606, enacted by Ga. L. 2001, p. 362, § 1.
O.C.G.A. § 11-9-607 Collection and enforcement by secured party
2.9K chars
(a) Collection and enforcement generally. If so agreed, and in any event after default, a secured party: (1) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (2) May tak…
O.C.G.A. § 11-9-609 Real property
1.2K chars
Procedure if security agreement covers, §11-9-604. Rights after default, §11-9-601. Agreement on standards concerning, §11-9-603. 1010 INDEX COMMERCIAL CODE —Cont’d Secured transactions —Cont’d Default —Cont’d Rights after default —Cont’d Waiver and variance, §11-9-602. Secondary…
O.C.G.A. § 11-9-610 Disposition of collateral after default
2.0K chars
(a) Disposition after default. After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. (b) Commercially reasonable disposition. Every…
O.C.G.A. § 11-9-611 Notification before disposition of collateral
2.9K chars
(a) “Notification date.” As used in this Code section, the term “notification date” means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or (2) The debtor and any secondary obligor wai…
O.C.G.A. § 11-9-612 Timeliness of notification before disposition of collateral
0.6K chars
(a) Reasonable time is question of fact. Except as otherwise provided in subsection (b) of this Code section, whether a notification is sent within a reasonable time is a question of fact. (b) Ten-day period sufficient in nonconsumer transaction. In a transaction other than a cons…
O.C.G.A. § 11-9-614 Timeliness, §11-9-612
0.7K chars
Uniform commercial code. Notice and knowledge, what constitutes, §11-1-202. Warehouse’s lien. Enforcement, sale of goods, §11-7-210. O OFFER AND ACCEPTANCE. Leases, commercial code. Firm offers, §11-2A-205. Generally, §11-2A-206. Sale of goods, UCC, §11-2-206. Additional terms, §…
O.C.G.A. § 11-9-616 Explanation of calculation of surplus or deficiency
3.9K chars
(a) Definitions. As used in this Code section, the term: (1) “Explanation” means a writing that: (A) States the amount of the surplus or deficiency; (B) Provides an explanation in accordance with subsection (c) of this Code section of how the secured party calculated the surplus or…
O.C.G.A. § 11-9-617 Rights of transferee of collateral
1.0K chars
(a) Effects of disposition. A secured party’s disposition of collateral after default: (1) Transfers to a transferee for value all of the debtor’s rights in the collateral; (2) Discharges the security interest under which the disposition is made; and (3) Discharges any subordinat…
O.C.G.A. § 11-9-618 Rights and duties of certain secondary obligors
0.8K chars
(a) Rights and duties of secondary obligor. A secondary obligor 918 11-9-619 acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) Receives an assignment of a secured obligation from the secured party; (2) Receives a…
O.C.G.A. § 11-9-619 Transfer of record or legal title
1.6K chars
(a) “Transfer statement.” As used in this Code section, the term “transfer statement” means a record authenticated by a secured party stating: (1) That the debtor has defaulted in connection with an obligation secured by specified collateral; (2) That the secured party has exercis…
O.C.G.A. § 11-9-620 Effect, §11-9-622
0.7K chars
Notification, §11-9-621. Agricultural lien. Time of default, §11-9-606. Collateral. Acceptance in full or partial satisfaction of obligation, §§11-9-620 to 11-9-622. Disposition after default, §§11-9-610 to 11-9-617. Redemption. Right to redeem collateral, §11-9-623. UNIFORM COMME…
O.C.G.A. § 11-9-621 Notification of proposal to accept collateral
1.4K chars
(a) Persons to which proposal to be sent. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (1) Any person from which the secured party has received, before the debtor consented to the accept…
O.C.G.A. § 11-9-622 Effect of acceptance of collateral
0.8K chars
(a) Effect of acceptance. A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) Discharges the obligation to the extent consented to by the debtor; (2) Transfers to the secured party all of a debtor’s rights in the collateral…
O.C.G.A. § 11-9-623 Right to redeem collateral
0.8K chars
(a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. 927 11-9-623 (b) Requirements for redemption. To redeem collateral, a person shall tender: (1) Fulfillment of all obligations secured by the collateral; an…
O.C.G.A. § 11-9-624 Notification before disposition of collateral
2.2K chars
Timeliness of notification before disposition of collateral. Contents and form of notification before disposition of collateral; general. Contents and form of notification before disposition of collateral; consumer goods transaction. Application of proceeds of disposition; liability…
O.C.G.A. § 11-9-626 Action in which deficiency or surplus is in issue
2.6K chars
(a) Applicable rules if amount of deficiency or surplus in issue. In an action arising from a transaction, other than a consumer 935 11-9-626 transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply: (1) A secured party need not prove compl…
O.C.G.A. § 11-9-701 Effective date
0.1K chars
This article takes effect on July 1, 2001. History. Code 1981, § 11-9-701, enacted by Ga. L. 2001, p. 362, § 1.
O.C.G.A. § 11-9-702 Savings clause
1.3K chars
(a) Pre-effective date transactions or liens. Except as otherwise provided in this part, this article applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2001. (b) Continuing validity. Except as otherwise p…
O.C.G.A. § 11-9-703 Security interest perfected before effective date
1.3K chars
(a) Continuing priority over lien creditor; perfection requirements satisfied. A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien creditor at that time is a perfected security interest un…
O.C.G.A. § 11-9-704 Security interest unperfected before effective date
0.8K chars
A security interest that is enforceable immediately before July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time: (1) Remains an enforceable security interest on and for one year after July 1, 2001; (2) Remains enforceabl…
O.C.G.A. § 11-9-705 Effectiveness of action taken before effective date
3.3K chars
(a) Pre-effective date action; one-year perfection period unless reperfected. If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a security interest over the rights of a person that becomes a li…
O.C.G.A. § 11-9-707 Amendment of pre-effective date financing statement
2.5K chars
(a) “Pre-effective date financing statement.” In this Code section, “pre-effective date financing statement” means a financing statement filed before July 1, 2001. (b) Applicable law. On or after July 1, 2001, a person may add or delete collateral covered by, continue or terminate th…
O.C.G.A. § 11-9-709 Priority
1.0K chars
(a) Law governing priority. This article determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former Article 9 of this title determines priority. (b) Priority if security interest becom…
O.C.G.A. § 11-9-710 Exculpation
1.1K chars
From July 1, 2001, until July 1, 2006, any search company shall not be liable to its customer as a result of failing to disclose the existence of a filed financing statement in any filing office or index maintained by the authority searched in good faith by such search company to th…
O.C.G.A. § 11-9-801 Reserved
0.1K chars
History. Code 1981, § 11-9-801, enacted by Ga. L. 2013, p. 690, § 20/SB 185. 11-9-802. Savings clause.
O.C.G.A. § 11-9-802 Savings clause
0.6K chars
(a) Pre-effective date transactions or liens. Except as otherwise provided in this part, this article, as in effect on July 1, 2013, applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2013. 959 11-9-805 (b…
O.C.G.A. § 11-9-803 Security interest perfected before effective date
1.1K chars
(a) Continuing perfection; perfection requirements satisfied. A security interest that is a perfected security interest immediately before July 1, 2013, is a perfected security interest under this article, as in effect on July 1, 2013, if, on July 1, 2013, the applicable requireme…
O.C.G.A. § 11-9-804 Security interest unperfected before effective date
0.6K chars
A security interest that is an unperfected security interest immediately before July 1, 2013, becomes a perfected security interest: (1) Without further action, on July 1, 2013, if the applicable requirements for perfection under this article, as in effect on July 1, 2013, are sa…
O.C.G.A. § 11-9-805 Effectiveness of action taken before effective date
5.7K chars
(a) Pre-effective date filing effective. The filing of a financing statement before July 1, 2013, is effective to perfect a security interest 960 11-9-805 to the extent the filing would satisfy the applicable requirements for perfection under this article, as in effect on July 1, 201…