---
title: O.C.G.A. § 11-9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
collection: code
id: 11-9-318
cite_as: O.C.G.A. § 11-9-318 (2025)
canonical_url: https://georgiacommons.org/code/11-9-318
md_url: https://georgiacommons.org/code/11-9-318.md
text_url: https://georgiacommons.org/code/11-9-318/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=807
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-9.md
previous: https://georgiacommons.org/code/11-9-317.md
next: https://georgiacommons.org/code/11-9-319.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / SECURED TRANSACTIONS / PERFECTION AND PRIORITY / Priority
---

# O.C.G.A. § 11-9-318. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.

(a) Seller retains no interest. A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.

(b) Deemed rights of debtor if buyer’s security interest unperfected. For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer’s security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.

## History

Code 1981, § 11-9-318, enacted by Ga. L. 2001, p. 362, § 1.

## Law Reviews

For annual survey on commercial law, see 53 Mercer L. Rev. 153 (2001).