Assignment of Powers of Secured Party of Record

1. Law
2. Georgia Code
3. Commercial Code
4. Secured Transactions
5. Filing
6. Assignment of Powers of Secured Party of Record

1. 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.
2. Assignment of filed financing statement. A secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:
   1. Identifies, by its file number, the initial financing statement to which it relates;
   2. Provides the name of the assignor; and
   3. Provides the name and mailing address of the assignee.

(Code 1981, §11-9-514, enacted by Ga. L. 2001, p. 362, § 1.)

Law reviews.

- For article on the 1963 amendment to the Georgia Uniform Commercial Code, see 14 Mercer L. Rev. 378 (1963). For article, "Security Transfers by Secured Parties," see 4 Ga. L. Rev. 527 (1970).

RESEARCH REFERENCES

Am. Jur. 2d.

- 68A Am. Jur. 2d, Secured Transactions, §§ 283, 284, 420, 462.

C.J.S.

- 72 C.J.S., Pledges, §§ 41-44.

U.L.A.

- Uniform Commercial Code (U.L.A.) § 9-514.

ALR.

- Validity of assignment of future book accounts, 72 A.L.R. 856.

Recording laws as applied to assignments of mortgages on real estate, 104 A.L.R. 1301.

Assignability of contemplated debt before execution of agreement by which it is to be created, 116 A.L.R. 955.

Federal government or agencies of federal government as subject to payment of tax or fee imposed upon, or for, recording or filing instrument, 124 A.L.R. 1267.

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