Legislation
SECTION 9-605
Unknown Debtor or Secondary Obligor
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 9, PART 6, SUBPART 1
Section 9--605. Unknown Debtor or Secondary Obligor.
A secured party does not owe a duty based on its status as secured
party:
(a) to a person that is a debtor or obligor, unless the secured party
knows:
(1) that the person is a debtor or obligor;
(2) the identity of the person; and
(3) how to communicate with the person; or
(b) to a secured party or lienholder that has filed a financing
statement against a person, unless the secured party knows:
(1) that the person is a debtor; and
(2) the identity of the person.
A secured party does not owe a duty based on its status as secured
party:
(a) to a person that is a debtor or obligor, unless the secured party
knows:
(1) that the person is a debtor or obligor;
(2) the identity of the person; and
(3) how to communicate with the person; or
(b) to a secured party or lienholder that has filed a financing
statement against a person, unless the secured party knows:
(1) that the person is a debtor; and
(2) the identity of the person.