(e) Limitation of multiple liability for statutory damages. A secured party is not liable under 12A:9-625 (c) (2) more than once with respect to any one secured obligation.
N.J. Stat. Ann. § 12A:9-625
(c) (2) for its failure to comply with 12A:9-616
Known as the Uniform Commercial Code
The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).
Applied in 1 court decision — leading case Dehart v. US Bank, N.A. ND (2011)
Most recently applied in Dehart v. US Bank, N.A. ND (August 2011)
L.2001, c.117, s.1; amended 2001, c.386, s.117.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.