11 §9-1402. Secured party not obligated on contract of debtor or in tort
Title 11: UNIFORM COMMERCIAL CODE
Article 9-A: TRANSACTIONS HEADING: PL 1999, C. 699, PT. A, §2 (NEW)
Part 4: RIGHTS OF 3RD PARTIES HEADING: PL 1999, C. 699, PT. A, §2 (NEW)
§9-1402. Secured party not obligated on contract of debtor or in tort
The existence of a security interest, agricultural lien or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions. [1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF).]
SECTION HISTORY
1999, c. 699, §A2 (NEW). 1999, c. 699, §A4 (AFF).