N.J. Stat. § 12A:9-402

Current through L. 2024, c. 80.

Section 12A: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.

N.J.S. § 12A:9-402

Enacted c. 117, s. 1, eff. 6/26/2001, op. 7/1/2001.