Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 9 - Secured Transactions, 55-9-101 through 55-9-710. > Section 55-9-402 - Secured party not obligated on contract of debtor or in tort.

Section 55-9-402 - Secured party not obligated on contract of debtor or in tort.

55-9-402. 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.