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.
Ohio Rev. Code Ann. § 1309.402
Secured party not obligated on contract of debtor or in tort - UCC 9-402
Known as the Uniform Commercial Code
The act spans §§ 1309.101 to 1309.709 (136 sections).
Effective: July 1, 2001; Latest Legislation: Senate Bill 74 - 124th General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.