§ 9—402.
65 words·~1 min read·
/vt/9-73A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 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. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)