§ 11-6-104 - Schedule of property, list of creditors - Georgia Statutes

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Statutes > Georgia > Title-11 > Article-6 > 11-6-104

O.C.G.A. 11-6-104 (2010)
11-6-104. Schedule of property, list of creditors

(1) Except as provided with respect to auction sales (Code Section 11-6-108), a bulk transfer subject to this article is ineffective against any creditor of the transferor unless:

(a) The transferee requires the transferor to furnish a list of his existing creditors prepared as stated in this Code section; and

(b) The parties prepare a schedule of the property transferred sufficient to identify it; and

(c) The transferee preserves the list and schedule for six months next following the transfer and permits inspection of either or both and copying therefrom at all reasonable hours by any creditor of the transferor, or files the list and schedule in the office of the clerk of the superior court as follows: when the seller is a resident individual, in the county where he resides, or when the seller is a nonresident individual, or is a partnership, corporation, or other business entity, in the county of the seller's principal place of business in this state.

(2) The list of creditors must be signed and sworn to or affirmed by the transferor or his agent. It must contain the names and business addresses of all creditors of the transferor, with the amounts when known, and also the names of all persons who are known to the transferor to assert claims against him even though such claims are disputed.

(3) Responsibility for the completeness and accuracy of the list of creditors rests on the transferor, and the transfer is not rendered ineffective by errors or omissions therein unless the transferee is shown to have had knowledge.

State Codes and Statutes

Statutes > Georgia > Title-11 > Article-6 > 11-6-104

O.C.G.A. 11-6-104 (2010)
11-6-104. Schedule of property, list of creditors

(1) Except as provided with respect to auction sales (Code Section 11-6-108), a bulk transfer subject to this article is ineffective against any creditor of the transferor unless:

(a) The transferee requires the transferor to furnish a list of his existing creditors prepared as stated in this Code section; and

(b) The parties prepare a schedule of the property transferred sufficient to identify it; and

(c) The transferee preserves the list and schedule for six months next following the transfer and permits inspection of either or both and copying therefrom at all reasonable hours by any creditor of the transferor, or files the list and schedule in the office of the clerk of the superior court as follows: when the seller is a resident individual, in the county where he resides, or when the seller is a nonresident individual, or is a partnership, corporation, or other business entity, in the county of the seller's principal place of business in this state.

(2) The list of creditors must be signed and sworn to or affirmed by the transferor or his agent. It must contain the names and business addresses of all creditors of the transferor, with the amounts when known, and also the names of all persons who are known to the transferor to assert claims against him even though such claims are disputed.

(3) Responsibility for the completeness and accuracy of the list of creditors rests on the transferor, and the transfer is not rendered ineffective by errors or omissions therein unless the transferee is shown to have had knowledge.

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State Codes and Statutes

Statutes > Georgia > Title-11 > Article-6 > 11-6-104

O.C.G.A. 11-6-104 (2010)
11-6-104. Schedule of property, list of creditors

(1) Except as provided with respect to auction sales (Code Section 11-6-108), a bulk transfer subject to this article is ineffective against any creditor of the transferor unless:

(a) The transferee requires the transferor to furnish a list of his existing creditors prepared as stated in this Code section; and

(b) The parties prepare a schedule of the property transferred sufficient to identify it; and

(c) The transferee preserves the list and schedule for six months next following the transfer and permits inspection of either or both and copying therefrom at all reasonable hours by any creditor of the transferor, or files the list and schedule in the office of the clerk of the superior court as follows: when the seller is a resident individual, in the county where he resides, or when the seller is a nonresident individual, or is a partnership, corporation, or other business entity, in the county of the seller's principal place of business in this state.

(2) The list of creditors must be signed and sworn to or affirmed by the transferor or his agent. It must contain the names and business addresses of all creditors of the transferor, with the amounts when known, and also the names of all persons who are known to the transferor to assert claims against him even though such claims are disputed.

(3) Responsibility for the completeness and accuracy of the list of creditors rests on the transferor, and the transfer is not rendered ineffective by errors or omissions therein unless the transferee is shown to have had knowledge.