Georgia Statutes
§ 11-9-318 — No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers
Georgia § 11-9-318
JurisdictionGeorgia
Title11
This text of Georgia § 11-9-318 (No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers) 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. § 11-9-318 (2026).
Text
(a)Seller retains no interest. A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
(b)Deemed rights of debtor if buyer's security interest unperfected. For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.
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Related
Mail Concepts, Inc. v. Foote & Davies, Inc.
409 S.E.2d 567 (Court of Appeals of Georgia, 1991)
Brock v. Douglas Kohoutek, L.P.
483 S.E.2d 342 (Court of Appeals of Georgia, 1997)
CGU Life Insurance v. Singer Asset Finance Co.
553 S.E.2d 8 (Court of Appeals of Georgia, 2001)
Kerr v. Commercial Credit Group, Inc. (In Re Siskey Hauling Co.)
456 B.R. 597 (N.D. Georgia, 2011)
JCS Enterprises, Inc. v. Vanliner Insurance
489 S.E.2d 95 (Court of Appeals of Georgia, 1997)
Presidential Financial Corp. v. Francis A. Bonanno, Inc.
535 S.E.2d 809 (Court of Appeals of Georgia, 2000)
Allstate Financial Corporation v. Dundee Mills, Inc.
800 F.2d 1073 (Eleventh Circuit, 1986)
Fulton County v. American Factors of Nashville, Inc.
551 S.E.2d 781 (Court of Appeals of Georgia, 2001)
Gwinnett Community Bank v. Arlington Capital, LLC
(Court of Appeals of Georgia, 2014)
Legislative History
Added by 2001 Ga. Laws 191, § 1, eff. 7/1/2001.
Nearby Sections
15
§ 11-1-101
Short titles§ 11-1-102
Scope of article§ 11-1-104
Construction against implicit repeal§ 11-1-105
Severability§ 11-1-106
Use of singular and plural; gender§ 11-1-107
Section captions§ 11-1-201
General definitions§ 11-1-202
Notice; knowledge§ 11-1-204
Value§ 11-1-205
Reasonable time; seasonableness§ 11-1-206
PresumptionsCite This Page — Counsel Stack
Bluebook (online)
Georgia § 11-9-318, Counsel Stack Legal Research, https://law.counselstack.com/statute/ga/11-9-318.