Unknown debtor or secondary obligor

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Uniform Commercial Code
  5. Secured Transactions
  6. Default
  7. Default and Enforcement of Security Interest
  8. Unknown debtor or secondary obligor

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A secured party does not owe a duty based on its status as secured party:

  1. (1) to a person that is a debtor or obligor, unless the secured party knows:

    1. (A) that the person is a debtor or obligor;

    2. (B) the identity of the person; and

    3. (C) how to communicate with the person; or

  2. (2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:

    1. (A) that the person is a debtor; and

    2. (B) the identity of the person.


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