Official Code of Georgia Annotated

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

11-9-514. Assignment of powers of secured party of record.

Active

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

(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 of the secured party.#
(b)
Assignment of filed financing statement. A secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:#
1. (1)
  Identifies, by its file number, the initial financing statement to which it relates;#
2. (2)
  Provides the name of the assignor; and#
3. (3)
  Provides the name and mailing address of the assignee.#

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, § 11-9-514, enacted by Ga. L. 2001, p. 362, § 1.

Law reviews

For article, “Security Transfers by Secured Parties,” see 4 Ga. L. Rev. 527 (1970).

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)-2022-pdf.pdf, Volume V9, 2022 edition, pages 879 to 880; merge action: carried; file SHA-256 ad397fccbf21.

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