N.Y. U.C.C. 9-402

Secured Party Not Obligated on Contract of Debtor or in Tort

Known as the Uniform Commercial Code

The act spans §§ 1–12 (253 sections).

2014-09-22

Section 9--402. Secured Party Not Obligated on Contract of Debtor or in\n Tort.\n The existence of a security interest, agricultural lien, or authority\ngiven to a debtor to dispose of or use collateral, without more, does\nnot subject a secured party to liability in contract or tort for the\ndebtor's acts or omissions.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.