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.
K.S.A. 84-9-402
Secured party not obligated on contract of debtor or in tort
Applied in 3 court decisions — leading case Charles v. Cit
Most recently applied in Morris v. U.S. Bancorp Leasing & Financial (In Re Charles) (March 2002)
L. 2000, ch. 142, § 64; July 1, 2001.
Official source: Kansas Office of Revisor of Statutes. Reproduced from public-domain Kansas statutes; confirm against the official source for the current text. Not legal advice.