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2018 Georgia Code 11-9-518 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-9-518 Case Law from Google Scholar Amendments to OCGA 11-9-518

TITLE 11 COMMERCIAL CODE

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

ARTICLE 9 SECURED TRANSACTIONS

PART 1 FILING OFFICE; CONTENTS AND EFFECTIVENESS OF FINANCING STATEMENT

11-9-518. Inaccurate or wrongfully filed record.

  1. Statement with respect to record indexed under person's name. A person may file in the filing office an information statement with respect to a record indexed under the person's name if the person believes that the record is inaccurate or was wrongfully filed. The information statement shall be filed in the filing office of the county where the record was filed.
  2. Contents of statement under subsection (a) of this Code section. An information statement under subsection (a) of this Code section must:
    1. Identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;
    2. Indicate that it is an information statement; and
    3. Provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
  3. Statement by secured party of record. A person may file in the filing office an information statement with respect to a record filed there if such person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under subsection (d) of Code Section 11-9-509.
  4. Contents of statement under subsection (c) of this Code section. An information statement under subsection (c) of this Code section must:
    1. Identify the record to which it relates by the file number assigned to the initial financing statement to which the record relates;
    2. Indicate that it is an information statement; and
    3. Provide the basis for the person's belief that the person that filed the record was not entitled to do so under subsection (d) of Code Section 11-9-509.
  5. Record not affected by information statement. The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.

(Code 1981, §11-9-518, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2013, p. 690, § 15/SB 185.)

The 2013 amendment, effective July 1, 2013, in subsection (a), substituted "Statement with respect to record indexed under person's name" for "Correction statement" in the subsection heading, substituted "in the filing office an information" for "a correction" in the first sentence, and substituted "information" for "correction" in the second sentence; in subsection (b), substituted the present provisions of the introductory paragraph for the former provisions, which read: "Sufficiency of correction statement. A correction statement must:" and substituted "an information" for "a correction" in paragraph (b)(2); added present subsections (c) and (d); redesignated former subsection (c) as present subsection (e); and in subsection (e), substituted "information" for "correction" in the subsection heading and substituted "an information" for "a correction" near the beginning.

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-518.

PART 2 DUTIES AND OPERATION OF FILING OFFICE AND CENTRAL INDEXING SYSTEM

11-9-519. Numbering, maintaining, and indexing records; communicating information provided in records.

  1. Filing office duties. For each record filed in a filing office, the filing office shall:
    1. Assign a unique number to the filed record;
    2. Create a record that bears the number assigned to the filed record and the date and time of filing;
    3. Maintain the filed record or a microfilm or other photostatic, microphotographic, photographic copy, or optical image of the filed record for public inspection;
    4. Transmit each record to the authority in such form and manner as may be required by the authority within 24 hours of filing. Weekends and holidays shall not be included in the calculation of the 24 hour period; and
    5. Promptly upon discovering any discrepancy between a filed record and the information as it appears in the central indexing system, retransmit such record to the authority with a notation as to the discrepancy and a request for correction of the central indexing system information.
  2. Central indexing system.
    1. The authority shall administer, maintain, and modify a central indexing system which shall contain the records transmitted to it by filing offices pursuant to paragraph (4) of subsection (a) of this Code section. The authority shall, within 24 hours after receipt of each record, include the record in the central filing system and make such information available to the public through the central index. Weekends and holidays shall not be included in the calculation of the 24 hour period.
    2. The authority may designate one or more agents who will be responsible for any or all of the duties and functions of the authority set out in this Code section.
  3. Indexing; general. The authority shall:
    1. Index an initial financing statement according to the name of the debtor and index all filed records relating to the initial financing statement in a manner that associates with one another an initial financing statement and all filed records relating to the initial financing statement; and
    2. Index a record that provides a name of a debtor which was not previously provided in the financing statement to which the record relates also according to the name that was not previously provided.
  4. Indexing; real property related financing statement. If a financing statement is filed as a fixture filing or covers as-extracted collateral, crops, or timber to be cut, it must be filed for record and the filing office shall index it:
    1. Under the names of the debtor and of each owner of record shown on the financing statement as if they were the mortgagors under a mortgage of the real property described; and
    2. To the extent that the law of this state provides for indexing of records of mortgages under the name of the mortgagee, under the name of the secured party as if the secured party were the mortgagee thereunder, or, if indexing is by description, as if the financing statement were a record of a mortgage of the real property described.
  5. Indexing; real property related assignment. If a financing statement is filed as a fixture filing or covers as-extracted collateral, crops, or timber to be cut, the filing office shall index an assignment filed under subsection (a) of Code Section 11-9-514 or an amendment filed under subsection (b) of Code Section 11-9-514:
    1. Under the name of the assignor as grantor; and
    2. To the extent that the law of this state provides for indexing a record of the assignment of a mortgage, under the name of the assignee.
  6. Retrieval and association capability. The authority and each filing office shall maintain a capability with respect to the records they are required to index:
    1. To retrieve a record by the name of the debtor and by the file number assigned to the initial financing statement to which the record relates; and
    2. To associate and retrieve with one another an initial financing statement and each filed record relating to the initial financing statement.
  7. Removal of debtor's name. The authority may not remove a debtor's name from the central index until one year after the effectiveness of a financing statement naming the debtor lapses under Code Section 11-9-515 with respect to all secured parties of record.

(Code 1981, §11-9-519, enacted by Ga. L. 2001, p. 362, § 1; Ga. L. 2002, p. 415, § 11.)

The 2002 amendment, effective April 18, 2002, part of an Act to revise, modernize, and correct the Code, revised punctuation in paragraph (e)(2).

Law reviews.

- For article on the 1963 amendment to the Georgia Uniform Commercial Code, see 14 Mercer L. Rev. 378 (1963).

RESEARCH REFERENCES

Am. Jur. 2d.

- 68A Am. Jur. 2d, Secured Transactions, §§ 412, 421-423.

C.J.S.

- 26A C.J.S., Deeds, § 19 et seq.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-519.

No results found for Georgia Code 11-9-518.