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Official Code of Georgia Annotated

Title 10. COMMERCE AND TRADE · Chapter 1. SELLING AND OTHER TRADE PRACTICES · Article 1. RETAIL INSTALLMENT AND HOME SOLICITATION SALES

10-1-9. Transfer of retail installment contracts or revolving accounts.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    Any retail seller may assign, pledge, hypothecate, or otherwise transfer a retail installment contract or revolving account to any person, firm, or corporation on such terms and conditions and for such price as may be mutually agreed upon. Unless the buyer has notice of the assignment, payment thereunder made by the buyer to the last known owner of the contract or account shall be binding on all subsequent owners thereof.#

  2. (b)

    In no event will any such assignment bar any right of action against the seller arising as a result of this article, nor will any such assignment bar any defense against the sales finance company or other assignee arising as a result of subsection (b) of Code Section 10-1-15.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Ga. L. 1967, p. 659, § 8.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t10-(v8)-2024-pdf.pdf, Volume V8, 2024 edition, page 45; merge action: carried; file SHA-256 7afbade16da7.