30-9A-402. Secured party not obligated on contract of debtor. The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not impose upon a secured party liability in contract or tort for the debtor's acts or omissions.
History: En. Sec. 63, Ch. 305, L. 1999; Sec. 30-9-442, MCA 1999; redes. 30-9A-402 by Code Commissioner, 2001.
Structure Montana Code Annotated
Chapter 9A. Uniform Commercial Code Secured Transactions
Part 4. Rights of Third Parties
30-9A-401. Alienability of debtor's rights
30-9A-402. Secured party not obligated on contract of debtor
30-9A-403. Agreement not to assert defense against assignee
30-9A-404. Rights acquired by assignee -- claim and defenses against assignee
30-9A-405. Modification of assigned contract
30-9A-409. Restrictions on assignment of letter-of-credit rights ineffective
30-9A-410. through 30-9A-419 reserved
30-9A-420. Removal of improper or fraudulent liens -- notice to secured party and debtor