Duty of secured party to unknown debtor or obligor or unknown secured party or lienholder.

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57A-9-605. Duty of secured party to unknown debtor or obligor or unknown secured party or lienholder.

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

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

(A)That the person is a debtor or obligor;

(B)The identity of the person; and

(C)How to communicate with the person; or

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

(A)That the person is a debtor; and

(B)The identity of the person.

Source: SL 2000, ch 231.


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