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2018 Georgia Code 11-9-104 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-9-104 Case Law from Google Scholar Amendments to OCGA 11-9-104

TITLE 11 COMMERCIAL CODE

Section 9. Secured Transactions, 11-9-101 through 11-9-809.

ARTICLE 9 SECURED TRANSACTIONS

PART 1 SHORT TITLE, DEFINITIONS, AND GENERAL CONCEPTS

11-9-104. Control of deposit account.

  1. Requirements for control. A secured party has control of a deposit account if:
    1. The secured party is the bank with which the deposit account is maintained;
    2. The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or
    3. The secured party becomes the bank's customer with respect to the deposit account.
  2. Debtor's right to direct disposition. A secured party that has satisfied subsection (a) of this Code section has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.

(Code 1981, §11-9-104, enacted by Ga. L. 2001, p. 362, § 1.)

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-104.

Cases Citing O.C.G.A. § 11-9-104

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Cont'l Am. Life Ins. v. Griffin, 306 S.E.2d 285 (Ga. 1983).

Cited 21 times | Published | Supreme Court of Georgia | Sep 8, 1983 | 251 Ga. 412, 36 U.C.C. Rep. Serv. (West) 1737

...In determining whether Article Nine, the Uniform Commercial Code's chapter on secured transactions, is applicable to the assertion of a right of set-off, we are confronted with statutory language that "This article [chapter] does not apply ... to any right of set-off ..." OCGA § 11-9-104(g) (Code Ann....