O.C.G.A.
O.C.G.A.

O.C.G.A. § 11-9-402 (2019)

Secured party not obligated on contract of debtor or in tort

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor’s acts or omissions.

History

Code 1981, § 11-9-402, enacted by Ga. L. 2001, p. 362, § 1.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 68A Am. Jur. 2d, Secured Transactions, §§ 510, 554, 926-930. C.J.S. 77A C.J.S., Sales, § 291.

U.L.A. Uniform Commercial Code (U.L.A.) § 9402.

Notes of Decisions
Cited in 24 cases, 1983–2010 · leading case: Jones v. Small Bus. Admin. (In Re Cohutta Mills, Inc.), 108 B.R. 815 (N.D. Ga. 1989).
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Jones v. Small Bus. Admin. (In Re Cohutta Mills, Inc.), 108 B.R. 815 (N.D. Ga. 1989). · cites it 9× “See § 11-9-402. The statutes do not contain a similar provision for continuation statements.”
U.S. Cylinders, Inc. v. Vital Breathing Prods., Inc. (In Re Vital Breathing Prods., Inc.), 98 B.R. 97 (Bankr. N.D. Ga. 1988). · cites it 12× “Section 11-9-402(1) provides in pertinent part as follows: A financing statement is sufficient if it gives the names of the debtor and the secured party .”
Giddens v. Pioneer Credit (In re Giddens), 205 B.R. 349 (Bankr. M.D. Ga. 1997). · cites it 18× “, where both (i) the collateral described consists only of consumer goods as defined in Code Section 11-9-109, and (ii) the secured obligation as defined in subsection (1) of Code Section 11-9-402 is originally $5,000.00, or less, specify the maturity date of the secured…”
Loeb v. Franchise Distributors, Inc. (In Re Franchise Sys., Inc.), 46 B.R. 158 (Bankr. N.D. Ga. 1985). · cites it 6× “Georgia Bank also relies upon O.C.G.A. § 11-9-402(7) which provides that A financing statement sufficiently shows the name of the debtor if it gives the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or the names or partners.”
Rainbow Mfg. Co. v. Bank of Fitzgerald (In Re Rainbow Mfg. Co.), 129 B.R. 702 (Bankr. M.D. Ga. 1991). · cites it 10× “slature adopted a new subsection, which provides: (8) Except as provided in subsection (6) of this Code section, any financing statement or continuation statement which was filed on or after July 1, 1985, which described collateral not consisting only of consumer goods as…”
W. Auto Supply Co. v. McKenzie, 489 S.E.2d 537 (Ga. Ct. App. 1997). · cites it 8× “OCGA § 11-9-402 (7) provides in pertinent part: “Where the debtor so changes his name, or in the case of an organization, its name, identity, or corporate structure, that a filed financing statement becomes seriously misleading, the filing is not effective to perfect a security…”
Kelley v. Citizens & S. Nat'l Bank of Thomasville (In re Adams), 102 B.R. 271 (D. Ga. 1989). · cites it 4× “Under Georgia law, O.C.G.A. § 11-9-402, 5 a financing statement is sufficient if: (1) it-gives the name of the debtor and secured party; (2) it is signed by the debtor; (3) it gives an address of the secured party from which information concerning the security interest may be…”
Kubota Tractor Corp. v. Citizens & S. Nat'l Bank, 403 S.E.2d 218 (Ga. Ct. App. 1991). · cites it 2× “) OCGA § 11-9-402 (4) (Ga. Code Ann. § 109A-9-402 (4)); Anderson, 9 Uniform Commercial Code (3d ed.”
Lewis v. D. Hays Trucking, Inc., 701 F. Supp. 2d 1300 (N.D. Ga. 2010). · cites it 2× “The fact that under the terms of the security agreements, Hays was required to produce a load of stumpwood at least every thirty days or that Hercules had taken a security interest in Hays’ equipment that meant Hays could not use those bulldozers to “push” stumps for anyone…”
Griswold v. United States, 59 F.3d 1571 (11th Cir. 1995). “402(1); Ga.Code Ann. § 11-9-402(1). Termination statements must be filed within a certain time period from the end of a secured party’s interest in property and must identify the original financing statements by filing number.”
Tidwell v. Slocumb (In Re Georgia Steel, Inc.), 71 B.R. 903 (Bankr. M.D. Ga. 1987). · cites it 2× “§ 11-2-210 (1982) and O.C.G.A. § 11-9-402 (1982), a right of action directly or indirectly involving a right of property is assignable.”
State v. Mozley, 357 S.E.2d 313 (Ga. Ct. App. 1987). · cites it 2× “requirement of good faith, and the implications flowing from that requirement, as to whether they were required either to file a corrected financing statement as provided under OCGA § 11-9-402 (2) (d) . . . , or to file originally under the corporation’s name in Fulton County.”
Lehigh Press, Inc. v. Nat'l Bank, 389 S.E.2d 376 (Ga. Ct. App. 1989). · cites it 2× “OCGA § 11-9-402 (1) provides that “[a] financing statement is sufficient if it .”
Trust Co. Bank v. Walker (In Re Walker), 35 B.R. 237 (Bankr. N.D. Ga. 1983). “§ 11-9-402(1) (1983). 8 . Official Code Ga.”
Pettigrew v. Consultants United, Inc. (In Re Specialcare, Inc.), 209 B.R. 13 (Bankr. N.D. Ga. 1997). · cites it 6× “Section 11-9-402(7) provides as follows: A financing statement sufficiently shows the name of the debtor if it gives the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or the names of partners .”
Matter of Coody, 59 B.R. 164 (Bankr. M.D. Ga. 1986). · cites it 6× “” O.C.G.A. § 11-9-402(5) (Michie Supp.1985).”
Bartolan, Inc. v. Columbian Peanut Co., Inc., 727 F. Supp. 1444 (M.D. Ga. 1989). · cites it 2× “§ 9-402, [a statute analogous to O.C.G.A. § 11-9-402 (Supp.1989) ], it did not have a perfected security interest in respondents’ crops while they were growing because the Government had failed to meet the requirement of N.”
Healthcorp, Inc. v. Se. Emergency Healthcare, P.C. (In Re Se. Emergency Healthcare, P.C.), 85 B.R. 170 (Bankr. N.D. Ga. 1988). · cites it 2× “Section 11-9-402(1) provides: A financing statement is sufficient if it gives the names of the debtor and the secured party, is signed by the debtor, gives an address of the secured party from which information concerning the security interest may be obtained, gives a mailing…”
State v. Mozley, 318 S.E.2d 647 (Ga. Ct. App. 1984). · cites it 2× “requirement of good faith, and the implications flowing from that requirement, as to whether they were required either to file a corrected financing statement as provided under OCGA § 11-9-402 (2) (d) (Code Ann. § 109A-9—402 (2) (d), or to file originally under the corporation’s…”
Willson v. Habersham Bank, 111 B.R. 368 (N.D. Ga. 1990). · cites it 3× “…statement is sufficient if it gives the names of the debtor and the secured party....” UCC § 9-402(1); O.C. G.A. § 11-9-402(1).”
Coats Am., Inc. v. Summit Nat'l Bank, 211 B.R. 771 (N.D. Ga. 1997). · cites it 2× “ssembly’s adoption of § 11-9-403(8) and provides: (8) Except as provided in subsection (6) of this Code section, any financing statement or continuation statement which was filed on or after July 1, 1985, which described collateral not consisting only of consumer goods as…”
NCNB Nat'l Bank of North Carolina v. Major Leasing, Inc. (In re Major Leasing, Inc.), 140 B.R. 826 (D. Ga. 1991). · cites it 2× “NCNB asserts that Section 9-402(7) of the Uniform Commercial Code, as adopted in part by both North Carolina (North Carolina Statutes Annotated § 25-9-402(7)) and Georgia (O.C.G.A. § 11-9-402(7)), should apply to the transaction with the result that NCNB did not have to…”
In Re Simpson Motor Co., 101 B.R. 813 (Bankr. N.D. Ga. 1989). · cites it 4× “” O.C.G.A. § 11-9-402(1). A safe harbor is granted under O.”
United States v. Georgia Vegetables Co., 123 B.R. 456 (M.D. Ga. 1990). · cites it 2× “Faced with the United States’ claim of conversion of mortgaged property, Georgia Vegetables, nevertheless, claims that had its representatives gone to the courthouse they would not have been put on notice of the Farmers Home Administration’s secured interest because the…”
— 11-9-402(1) — 10 cases
Giddens v. Pioneer Credit (In re Giddens), 205 B.R. 349 (Bankr. M.D. Ga. 1997). “, where both (i) the collateral described consists only of consumer goods as defined in Code Section 11-9-109, and (ii) the secured obligation as defined in subsection (1) of Code Section 11-9-402 is originally $5,000.00, or less, specify the maturity date of the secured…”
Rainbow Mfg. Co. v. Bank of Fitzgerald (In Re Rainbow Mfg. Co.), 129 B.R. 702 (Bankr. M.D. Ga. 1991). “slature adopted a new subsection, which provides: (8) Except as provided in subsection (6) of this Code section, any financing statement or continuation statement which was filed on or after July 1, 1985, which described collateral not consisting only of consumer goods as…”
Jones v. Small Bus. Admin. (In Re Cohutta Mills, Inc.), 108 B.R. 815 (N.D. Ga. 1989). “See § 11-9-402. The statutes do not contain a similar provision for continuation statements.”
Griswold v. United States, 59 F.3d 1571 (11th Cir. 1995). “402(1); Ga.Code Ann. § 11-9-402(1). Termination statements must be filed within a certain time period from the end of a secured party’s interest in property and must identify the original financing statements by filing number.”
U.S. Cylinders, Inc. v. Vital Breathing Prods., Inc. (In Re Vital Breathing Prods., Inc.), 98 B.R. 97 (Bankr. N.D. Ga. 1988). “Section 11-9-402(1) provides in pertinent part as follows: A financing statement is sufficient if it gives the names of the debtor and the secured party .”
Trust Co. Bank v. Walker (In Re Walker), 35 B.R. 237 (Bankr. N.D. Ga. 1983). “§ 11-9-402(1) (1983). 8 . Official Code Ga.”
Healthcorp, Inc. v. Se. Emergency Healthcare, P.C. (In Re Se. Emergency Healthcare, P.C.), 85 B.R. 170 (Bankr. N.D. Ga. 1988). “Section 11-9-402(1) provides: A financing statement is sufficient if it gives the names of the debtor and the secured party, is signed by the debtor, gives an address of the secured party from which information concerning the security interest may be obtained, gives a mailing…”
Willson v. Habersham Bank, 111 B.R. 368 (N.D. Ga. 1990). “…statement is sufficient if it gives the names of the debtor and the secured party....” UCC § 9-402(1); O.C. G.A. § 11-9-402(1).”
In Re Simpson Motor Co., 101 B.R. 813 (Bankr. N.D. Ga. 1989). “” O.C.G.A. § 11-9-402(1). A safe harbor is granted under O.”
United States v. Georgia Vegetables Co., 123 B.R. 456 (M.D. Ga. 1990). “Faced with the United States’ claim of conversion of mortgaged property, Georgia Vegetables, nevertheless, claims that had its representatives gone to the courthouse they would not have been put on notice of the Farmers Home Administration’s secured interest because the…”
— 11-9-402(4) — 1 case
Giddens v. Pioneer Credit (In re Giddens), 205 B.R. 349 (Bankr. M.D. Ga. 1997). “, where both (i) the collateral described consists only of consumer goods as defined in Code Section 11-9-109, and (ii) the secured obligation as defined in subsection (1) of Code Section 11-9-402 is originally $5,000.00, or less, specify the maturity date of the secured…”
— 11-9-402(5) — 1 case
Matter of Coody, 59 B.R. 164 (Bankr. M.D. Ga. 1986). “” O.C.G.A. § 11-9-402(5) (Michie Supp.1985).”
— 11-9-402(7) — 7 cases
Jones v. Small Bus. Admin. (In Re Cohutta Mills, Inc.), 108 B.R. 815 (N.D. Ga. 1989). “See § 11-9-402. The statutes do not contain a similar provision for continuation statements.”
Loeb v. Franchise Distributors, Inc. (In Re Franchise Sys., Inc.), 46 B.R. 158 (Bankr. N.D. Ga. 1985). “Georgia Bank also relies upon O.C.G.A. § 11-9-402(7) which provides that A financing statement sufficiently shows the name of the debtor if it gives the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or the names or partners.”
U.S. Cylinders, Inc. v. Vital Breathing Prods., Inc. (In Re Vital Breathing Prods., Inc.), 98 B.R. 97 (Bankr. N.D. Ga. 1988). “Section 11-9-402(1) provides in pertinent part as follows: A financing statement is sufficient if it gives the names of the debtor and the secured party .”
Pettigrew v. Consultants United, Inc. (In Re Specialcare, Inc.), 209 B.R. 13 (Bankr. N.D. Ga. 1997). “Section 11-9-402(7) provides as follows: A financing statement sufficiently shows the name of the debtor if it gives the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or the names of partners .”
Willson v. Habersham Bank, 111 B.R. 368 (N.D. Ga. 1990). “…statement is sufficient if it gives the names of the debtor and the secured party....” UCC § 9-402(1); O.C. G.A. § 11-9-402(1).”
NCNB Nat'l Bank of North Carolina v. Major Leasing, Inc. (In re Major Leasing, Inc.), 140 B.R. 826 (D. Ga. 1991). “NCNB asserts that Section 9-402(7) of the Uniform Commercial Code, as adopted in part by both North Carolina (North Carolina Statutes Annotated § 25-9-402(7)) and Georgia (O.C.G.A. § 11-9-402(7)), should apply to the transaction with the result that NCNB did not have to…”
In Re Simpson Motor Co., 101 B.R. 813 (Bankr. N.D. Ga. 1989). “” O.C.G.A. § 11-9-402(1). A safe harbor is granted under O.”
— 11-9-402(8) — 2 cases
U.S. Cylinders, Inc. v. Vital Breathing Prods., Inc. (In Re Vital Breathing Prods., Inc.), 98 B.R. 97 (Bankr. N.D. Ga. 1988). “Section 11-9-402(1) provides in pertinent part as follows: A financing statement is sufficient if it gives the names of the debtor and the secured party .”
Jones v. Small Bus. Admin. (In Re Cohutta Mills, Inc.), 108 B.R. 815 (N.D. Ga. 1989). “See § 11-9-402. The statutes do not contain a similar provision for continuation statements.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.