Section 400.9-605

Title XXVI TRADE AND COMMERCE

Chapter 400

Effective - 01 Jul 2001, see footnote   

  400.9-605.  Unknown debtor or secondary obligor. — A secured party does not owe a duty based on its status as secured party:

  (1)  To a person that is a debtor or obligor, unless the secured party knows:

  (A)  That the person is a debtor or obligor;

  (B)  The identity of the person; and

  (C)  How to communicate with the person; or

  (2)  To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:

  (A)  That the person is a debtor; and

  (B)  The identity of the person.

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(L. 2001 S.B. 288)

Effective 7-01-01