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Texas Business & Commerce Code

§ 9.402 — SECURED PARTY NOT OBLIGATED ON CONTRACT OF DEBTOR OR IN TORT

BC § 9.402Title 1. UNIFORM COMMERCIAL CODE · Ch. 9. SECURED TRANSACTIONS · Art. D. RIGHTS OF THIRD PARTIES

Statute text

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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.

Legislative history

Amended by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.

Source: Texas Business & Commerce Code § 9.402 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.