Georgia § 11-9-209 Duties of secured party if account debtor has been notified of assignment

Georgia Statutes

§ 11-9-209 — Duties of secured party if account debtor has been notified of assignment

Georgia § 11-9-209

Title11

This text of Georgia § 11-9-209 (Duties of secured party if account debtor has been notified of assignment) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 11-9-209 (2026).

Text

(a)Applicability of Code section. Except as otherwise provided in subsection (c) of this Code section, this Code section applies if:

(1)There is no outstanding secured obligation; and (2) The secured party is not committed to make advances, incur obligations, or otherwise give value.

(b)Duties of secured party after receiving demand from debtor. Within ten days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under subsection (a) of Code Section 11-9-406 or subsection (b) of Code Section 11-12-106 of an assignment to the secured party as assignee a signed record that releases the account debtor from any further obligation to the secured party.

(c)Inapplicability to sales. This Code section does not apply to an

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Applicability of Code section. Except as otherwise provided in subsection (c) of this Code section, this Code section applies if: (1) There is no outstanding secured obligation; and (2) The secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. Within ten days after receiving a signed demand by the debtor, a secured party shall send to an account debtor that has received notification under subsection (a) of Code Section 11-9-406 or subsection (b) of Code Section 11-12-106 of an assignment to the secured party as assignee a signed record that releases the account debtor from any further obligation to the secured party. (c) Inapplicability to sales. This Code section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.