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2018 Georgia Code 11-9-105 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-9-105 Case Law from Google Scholar Amendments to OCGA 11-9-105

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

11-9-105. Control of electronic chattel paper.

  1. General rule; control of electronic chattel paper. A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.
  2. Specific facts giving control. A system satisfies the provisions of subsection (a) of this Code section if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:
    1. A single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6) of this subsection, unalterable;
    2. The authoritative copy identifies the secured party as the assignee of the record or records;
    3. The authoritative copy is communicated to and maintained by the secured party or its designated custodian;
    4. Copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;
    5. Each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and
    6. Any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.

(Code 1981, §11-9-105, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2013, p. 690, § 2/SB 185.)

The 2013 amendment, effective July 1, 2013, designated the existing provisions as subsections (a) and (b); in subsection (a), added the subsection heading and added "if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned" at the end; in the introductory language of subsection (b), added the subsection heading and "A system satisfies the provisions of subsection (a) of this Code section" at the beginning; substituted "subsection" for "Code section" in paragraph (b)(1); in paragraph (b)(4), substituted "amendments" for "revisions" near the beginning and substituted "consent" for "participation" near the end; and, in paragraph (b)(6), substituted "amendment" for "revision" near the beginning and substituted "as authorized or unauthorized" for "an authorized or unauthorized revision" at the end.

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-105.

Cases Citing O.C.G.A. § 11-9-105

Total Results: 2  |  Sort by: Relevance  |  Newest First

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Reeves v. Habersham Bank, 331 S.E.2d 589 (Ga. 1985).

Cited 26 times | Published | Supreme Court of Georgia | Jul 3, 1985 | 254 Ga. 615, 41 U.C.C. Rep. Serv. (West) 289

...OCGA § 11-9-504 (3) provides that, "reasonable notification of the time and place of any public sale or reasonable notification of the time after which any private sale or other intended disposition is to be made shall be sent by the secured party to the debtor. ..." OCGA § 11-9-105 (d) defines "debtor" as "the person who owes payment or other performance of the obligation secured, whether or not he has rights in the collateral, and includes the seller of accounts or chattel paper....
...1984) (stockholders of corporation who guaranteed obligation of corporation are debtors). The rationale common to these cases is that persons who face possible deficiency claims arising from a foreclosure sale continue to owe "other performance of the obligation secured," OCGA § 11-9-105 (1) (d), and have an interest in seeing that the collateral is sold for the best possible price....
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Branan v. Equico Lessors, Inc., 342 S.E.2d 671 (Ga. 1986).

Cited 18 times | Published | Supreme Court of Georgia | May 7, 1986 | 255 Ga. 718

...The question for decision in Barbree was whether Barbree was a "debtor" within the meaning of § 11-9-504 (3), thereby being entitled to notice of the sale of the repossessed collateral as a condition precedent to Allis-Chalmers' holding him liable for the deficiency. OCGA § 11-9-105 (d) defines "debtor" as "the person who owes payment or other performance of the obligation secured, whether or not he owns or has rights in the collateral, and includes the seller of accounts or chattel paper....
...rs within the definition of debtor "where the context requires," and since the context there so required. However, in Barbree we did hold that it was unnecessary to decide whether Barbree was a guarantor or an endorser. In this regard, we noted that § 11-9-105 (d) specifically names sellers of chattel paper (of which Barbree was one) as among those who may be considered debtors who owe payment or other performance of the obligation secured....
...Commercial Bank, supra, and McNulty v. Codd, supra, had held that an endorser of a note is not a "debtor" entitled to notice under the provisions of § 11-9-504 (3). In Gray, the Court of Appeals held that although it could construe an endorser as a debtor under § 11-9-105 (d) because the endorser "owes payment" of the notice, it would instead follow the view "supported in certain of our sister states" that the meaning of "debtor" under § 11-9-504 (3) is limited to the owner of the collateral....
...es the fact that in most commercial dealings the endorser or guarantor has waived [as they have in this case] his rights to the collateral by allowing the secured party to release it in whole or in part, even without default. The provisions of [OCGA § 11-9-105 (d) limiting *721 the definition of `debtor' to `owner' in sections dealing with collateral anticipates this fact." 159 Ga....