Secured party not obligated on contract of debtor or in tort

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  2. Maine Revised Statutes
  3. UNIFORM COMMERCIAL CODE
  4. TRANSACTIONS
  5. RIGHTS OF 3RD PARTIES
  6. Secured party not obligated on contract of debtor or in tort

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§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).


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