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.
Me. Rev. Stat. tit. 11, § 9-1402
Secured party not obligated on contract of debtor or in tort
Known as the Uniform Commercial Code
The act spans §§ 2-101 to 9-1709 (548 sections).
PL 1999, c. 699, §A2 (NEW)
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.