Section 11-9-514 - Assignment of powers of secured party of record

(a)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.(b)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.Added by 2001 Ga. Laws 191, § 1, eff. 7/1/2001.