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2018 Georgia Code 11-9-617 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 11-9-617 Case Law from Google Scholar Amendments to OCGA 11-9-617

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

11-9-617. Rights of transferee of collateral.

  1. Effects of disposition. A secured party's disposition of collateral after default:
    1. Transfers to a transferee for value all of the debtor's rights in the collateral;
    2. Discharges the security interest under which the disposition is made; and
    3. Discharges any subordinate security interest or other subordinate lien.
  2. Rights of good faith transferee. A transferee that acts in good faith takes free of the rights and interests described in subsection (a) of this Code section, even if the secured party fails to comply with this article or the requirements of any judicial proceeding.
  3. Rights of other transferee. If a transferee does not take free of the rights and interests described in subsection (a) of this Code section, the transferee takes the collateral subject to:
    1. The debtor's rights in the collateral;
    2. The security interest or agricultural lien under which the disposition is made; and
    3. Any other security interest or other lien.

(Code 1981, §11-9-617, enacted by Ga. L. 2001, p. 362, § 1.)

JUDICIAL DECISIONS

Termination of debtor's ownership interest.

- Where a debtor's vehicle was part of the debtor's bankruptcy estate under Georgia law, return of the same was proper despite the creditor's objections, as ownership remained with the debtor until the creditor disposed of or elected to retain the collateral in accordance with the procedures of the Georgia Uniform Commercial Code. Motors Acceptance Corp. v. Rozier, 278 Ga. 52, 597 S.E.2d 367 (2004).

RESEARCH REFERENCES

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-617.

Cases Citing Georgia Code 11-9-617 From Courtlistener.com

Total Results: 1

Motors Acceptance Corp. v. Rozier

Court: Supreme Court of Georgia | Date Filed: 2004-06-07

Citation: 597 S.E.2d 367, 278 Ga. 52, 2004 Fulton County D. Rep. 1875, 54 U.C.C. Rep. Serv. 2d (West) 31, 2004 Ga. LEXIS 470

Snippet: supplied). [14] In Georgia, this provision is OCGA § 11-9-617(a)(1). [15] 292 F.3d at 1354. [16] OCGA § 11-9-102(a)(29)