The mere existence of a security interest or authority given to the debtor to dispose of or use collateral does not impose contract or tort liability upon the secured party for the debtor's acts or omissions.
CREDIT(S)
(Dec. 30, 1963, 77 Stat. 761, Pub. L. 88-243, § 1.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 28:9-317.
1973 Ed., § 28:9-317.
Legislative History of Laws
For Law 13-201, see notes following § 28:9-101.