Sec. 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.
Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 9 - Secured Transactions
Subchapter D. Rights of Third Parties
Section 9.401. Alienability of Debtor's Rights
Section 9.402. Secured Party Not Obligated on Contract of Debtor or in Tort
Section 9.403. Agreement Not to Assert Defenses Against Assignee
Section 9.404. Rights Acquired by Assignee; Claims and Defenses Against Assignee
Section 9.405. Modification of Assigned Contract
Section 9.409. Restrictions on Assignment of Letter-of-Credit Rights Ineffective