Section 11-9-628 - [Effective Until 7/1/2024] Nonliability and limitation on liability of secured party; liability of secondary obligor(a)Limitation of liability of secured party for noncompliance with article. Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:(1) The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this article; and(2) The secured party's failure to comply with this article does not affect the liability of the person for a deficiency.(b)Limitation of liability based on status as secured party. A secured party is not liable because of its status as secured party:(1) To a person that is a debtor or obligor, unless the secured party knows: (A) That the person is a debtor or obligor;(B) The identity of the person; and(C) How to communicate with the person; or(2) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:(A) That the person is a debtor; and(B) The identity of the person.(c)Limitation of liability if reasonable belief that transaction not a consumer goods transaction or consumer transaction. A secured party is not liable to any person, and a person's liability for a deficiency is not affected, because of any act or omission arising out of the secured party's reasonable belief that a transaction is not a consumer goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party's belief is based on its reasonable reliance on:(1) A debtor's representation concerning the purpose for which collateral was to be used, acquired, or held; or(2) An obligor's representation concerning the purpose for which a secured obligation was incurred.(d)Limitation of liability for statutory damages. A secured party is not liable to any person under paragraph (2) of subsection (c) of Code Section 11-9-625 for its failure to comply with Code Section 11-9-616.(e)Limitation of multiple liability for statutory damages. A secured party is not liable under paragraph (2) of subsection (c) of Code Section 11-9-625 more than once with respect to any one secured obligation.Added by 2001 Ga. Laws 191, § 1, eff. 7/1/2001.This section is set out more than once due to postponed, multiple, or conflicting amendments.