52-1404. Lender response; effect.
If the lender responds with a letter of commitment, the supplier may not obtain a lien for the amount stated in the letter of commitment. If the lender responds with a written refusal to issue a letter of commitment, the rights of the lender and the supplier are not affected by sections 52-1401 to 52-1411, and any prior perfected lien of the lender under the Uniform Commercial Code shall retain its established priority.
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