Code of Alabama - Title 7: Commercial Code - Section 7-9A-402 - Secured party not obligated on contract of debtor or in tort

Section 7-9A-402 - Secured party not obligated on contract of debtor or in tort.

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.

(Act 2001-481, p. 647, §1.)

Last modified: May 3, 2021