Section 4-9-402 - 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.L. 2001: Entire article R&RE, p. 1371, § 1, effective July 1.This section is similar to former § 4-9-317 as it existed prior to 2001.