§9-1402. 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. [PL 1999, c. 699, Pt. A, §2 (NEW); PL 1999, c. 699, Pt. A, §4 (AFF).]
SECTION HISTORY
PL 1999, c. 699, §A2 (NEW). PL 1999, c. 699, §A4 (AFF).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
11 §9-1401. Alienability of debtor's rights
11 §9-1402. Secured party not obligated on contract of debtor or in tort
11 §9-1403. Agreement not to assert defenses against assignee
11 §9-1404. Rights acquired by assignee; claims and defenses against assignee
11 §9-1405. Modification of assigned contract
11 §9-1409. Restrictions on assignment of letter-of-credit rights ineffective