Iowa Code § 554.9402

Current through March 29, 2024

Section 554.9402 - 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.

2000 Acts, ch 1149, §64, 185, 187