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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 9. · Article 9. SECURED TRANSACTIONS · Part 1. GENERAL PROVISIONS

11-9-107B. No requirement to acknowledge or confirm; no duties.

Active

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

  1. (a)

    No requirement to acknowledge. A person that has control under Code Section 11-9-104, 11-9-105, or 11-9-105A is not required to acknowledge that it has control on behalf of another person.#

  2. (b)

    No duties or confirmation. If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this article otherwise provides, the person does not owe any duty to the other person and is not required to confirm the acknowledgment to any other person.#

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

Code 1981, § 11-9-107B, enacted by Ga. L. 2024, p. 817, § 5-45/HB 1240, effective July 1, 2024.

Effective date

This Code section became effective July 1, 2024.

Editor's notes

Ga. L. 2024, p. 817, § 1-1/HB 1240, not codified by the General Assembly, provides: “This Act shall be known and may be cited as the ‘Uniform Commercial Code Modernization Act of 2024.’” Ga. L. 2024, p. 817, § 1-2/HB 1240, not codified by the General Assembly, provides: “Nothing in this Act shall be construed to support, endorse, create, or implement a national digital currency.”

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 t11-(v9)-pdf.pdf, Volume V9, 2022 edition, 2025 supplement, pages 92 to 93; merge action: added; file SHA-256 df9393c4ba3b.