Secured party not obligated on contract of debtor or in tort.

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554.9402 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.

2000 Acts, ch 1149, §64, 185, 187


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