47-9-402 - Secured party not obligated on contract of debtor or in tort.
47-9-402. 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.
[Acts 2000, ch. 846, § 1.]