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.
Structure Alaska Statutes
Chapter 29. Secured Transactions
Article 4. Rights of Third Parties.
Sec. 45.29.401. Alienability of debtor's rights.
Sec. 45.29.402. Secured party not obligated on contract of debtor or in tort.
Sec. 45.29.403. Agreement not to assert defenses against assignee.
Sec. 45.29.404. Rights acquired by assignee; claims and defenses against assignee.
Sec. 45.29.405. Modification of assigned contract.
Sec. 45.29.409. Restrictions on assignment of letter-of-credit rights ineffective.