NRS 104.9605 Duty to unknown debtor or secondary obligor.

218 words·~1 min read·/nv/chapter-104-uniform-commercial-code-original-articles/104-9605

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Except as provided in subsection 2, a secured party does not owe a duty based on its status as secured party:

(a)To a person that is a debtor or obligor, unless the secured party knows:

(1)That he or she is a debtor or obligor;

(2)His or her identity; and

(3)How to communicate with him or her; or

(b)To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:

(1)That the person is a debtor; and

(2)His or her identity.

2. A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable electronic record or controllable payment intangible or at the time the security interest attaches to the collateral, whichever is later:

(a)The person is a debtor or obligor; and

(b)The secured party knows that the information in subparagraph (1),

(2)or

(3)of paragraph

(a)of subsection 1 relating to the person is not provided by the collateral, a record attached to or logically associated with the collateral or the system in which the collateral is recorded.