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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 9. · Article 9. SECURED TRANSACTIONS · Part 5. FILING

11-9-509. Persons entitled to file a record.

Active

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

  1. (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:#

    1. (1)

      The debtor authorizes the filing in a signed record or pursuant to subsection (b) or (c) of this Code section; or#

    2. (2)

      The person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.#

  2. (b)

    Security agreement as authorization. By signing or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:#

    1. (1)

      The collateral described in the security agreement; and#

    2. (2)

      Property that becomes collateral under paragraph (2) of subsection (a) of Code Section 11-9-315, whether or not the security agreement expressly covers proceeds.#

  3. (c)

    Acquisition of collateral as authorization. By acquiring collateral in which a security interest or agricultural lien continues under paragraph (1) of subsection (a) of Code Section 11-9-315, a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under paragraph (2) of subsection (a) of Code Section 11-9-315.#

  4. (d)

    Person entitled to file certain amendments. A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:#

    1. (1)

      The secured party of record authorizes the filing; or#

    2. (2)

      The amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by subsection (a) or (c) of Code Section 11-9-513, the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.#

  5. (e)

    Multiple secured parties of record. If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d) of this Code section.#

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, § 11-9-509, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2024, p. 817, § 6-1/HB 1240, effective July 1, 2024.

Amendments

The 2024 amendment, effective July 1, 2024, substituted “a signed” for “an authenticated” in paragraph (a)(1) and substituted “signing” for “authenticating” near the beginning of subsection (b).

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 135 to 136; merge action: replaced; file SHA-256 df9393c4ba3b.