§ 440.9605

440.9605 Unknown debtor or secondary obligor. Sec. 9605. A secured party does not owe a duty based on its status as secured party to either of the following: (a) To a person that is a debtor or obligor, unless the secured party knows all of the following: (i) That the person is a debtor or obligor. (ii) The identity of the person. (iii) How to communicate with the person. (b) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows both of the following: (i) That the person is a debtor. (ii) The identity of the person. History: Add. 2000, Act 348, Eff. July 1, 2001