§ 11-9-511. Secured Party of Record
Secured party of record. A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under subsection […]
§ 11-9-405. Modification of Assigned Contract
Effect of modification on assignee. A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding rights under the modified or substituted contract. The assignment may provide that the modification or substitution is a breach of contract by the assignor. This subsection […]
§ 11-9-512. Amendment of Financing Statement
Amendment of information in financing statement. Subject to Code Section 11-9-509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this Code section, otherwise amend the information provided in a financing statement by filing an amendment that: Identifies, by its file number, […]
§ 11-9-406. Discharge of Account Debtor; Notification of Assignment; Identification and Proof of Assignment; Restrictions on Assignment of Accounts, Chattel Paper, Payment Intangibles, and Promissory Notes Ineffective
Discharge of account debtor; effect of notification. Subject to subsections (b) through (i) of this Code section, an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the assignor until, but not after, the account debtor receives a notification, authenticated by the assignor or the assignee, […]
§ 11-9-513. Termination Statement
Consumer goods. A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: There is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur […]
§ 11-9-407. Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor’s Residual Interest
Term restricting assignment generally ineffective. Except as otherwise provided in subsection (b) of this Code section, a term in a lease agreement is ineffective to the extent that it: Prohibits, restricts, or requires the consent of a party to the lease to the assignment, transfer, creation, attachment, perfection, or enforcement of a security interest […]
§ 11-9-514. Assignment of Powers of Secured Party of Record
Assignment reflected on initial financing statement. An initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party. Assignment of filed financing statement. […]
§ 11-9-408. Restrictions on Assignment of Promissory Notes, Health Care Insurance Receivables, and Certain General Intangibles Ineffective
Term restricting assignment generally ineffective. Except as otherwise provided in subsection (b) of this Code section or in Code Section 53-12-80, a term in a promissory note or in an agreement between an account debtor and a debtor which relates to a health care insurance receivable or a general intangible, including a contract, permit, […]
§ 11-9-335. Accessions
Creation of security interest in accession. A security interest may be created in an accession and continues in collateral that becomes an accession. Perfection of security interest. If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. Priority of security interest. Except […]
§ 11-9-336. Commingled Goods
“Commingled goods.” As used in this Code section, the term “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. No security interest in commingled goods as such. A security interest does not exist in commingled goods as […]