N.C. Gen. Stat. § 25-9-402

Current through Session Law 2024-58

Section 25-9-402 - 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.C. Gen. Stat. § 25-9-402

1961, c. 574; 1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.