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2018 Georgia Code 11-9-613 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-9-613 Case Law from Google Scholar Amendments to OCGA 11-9-613

TITLE 11 COMMERCIAL CODE

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

ARTICLE 9 SECURED TRANSACTIONS

PART 1 DEFAULT AND ENFORCEMENT OF SECURITY INTEREST

11-9-613. Contents and form of notification before disposition of collateral; general.

Except in a consumer goods transaction, the following rules apply:

  1. The contents of a notification of disposition are sufficient if the notification:
    1. Describes the debtor and the secured party;
    2. Describes the collateral that is the subject of the intended disposition;
    3. States the method of intended disposition;
    4. States that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and
    5. States the time and place of a public disposition or the time after which any other disposition is to be made;
  2. Whether the contents of a notification that lacks any of the information specified in paragraph (1) of this Code section are nevertheless sufficient is a question of fact;
  3. The contents of a notification providing substantially the information specified in paragraph (1) of this Code section are sufficient, even if the notification includes:
    1. Information not specified by that paragraph; or
    2. Minor errors that are not seriously misleading;
  4. A particular phrasing of the notification is not required; and
  5. The following form of notification and the form appearing in paragraph (3) of Code Section 11-9-614, when completed, each provides sufficient information:
NOTIFICATION OF DISPOSITION OF COLLATERAL To: (Name of debtor, obligor, or other person to which the notification is sent) From: (Name, address, and telephone number of secured party) Name of Debtor(s): (Include only if debtor(s) is (are) not an addressee) (For a public disposition:) We will sell (or lease or license, as applicable) the (describe collateral) to the highest qualified bidder in public as follows: Day and date: _____________ Time: _____________ Place: _____________ (For a private disposition:) We will sell (or lease or license, as applicable) the (describe collateral) privately sometime after (day and date). You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell (or lease or license, as applicable) (for a charge of $_____________). You may request an accounting by calling us at (telephone number).

(Code 1981, §11-9-613, enacted by Ga. L. 2001, p. 362, § 1.)

JUDICIAL DECISIONS

Valid private sale.

- Assuming that the sale of collateral was a public sale within the meaning of O.C.G.A. § 11-1-201(31.1), the sale occurred in a commercially reasonable manner, under O.C.G.A. § 11-9-627, because the sale was consistent with the reasonable commercial practices of dealers in similar equipment. Moreover, the sale qualified as a valid private sale under O.C.G.A. § 11-9-613 and the creditor did not have to comply with the statute's public-sale provisions regarding time and advertising. Colonial Pac. Leasing Corp. v. N & N Partners, LLC, 981 F. Supp. 2d 1345 (N.D. Ga. Nov. 4, 2013).

Misstatement in a notification of sale.

- Misstatement in the notifications of sale - that the secured creditor's subsidiary was the secured creditor - was a minor error that was not seriously misleading. Colonial Pac. Leasing Corp. v. N & N Partners, LLC, 981 F. Supp. 2d 1345 (N.D. Ga. Nov. 4, 2013).

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-613.

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