Sec. 42a-9-402. Secured party not obligated on contract of debtor or in tort. - Connecticut Statutes

      Sec. 42a-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.

      (1959, P.A. 133, S. 9-402; P.A. 76-369, S. 29; P.A. 01-132, S. 64.)

      History: P.A. 76-369 essentially replaced previous provisions; P.A. 01-132 replaced former provisions re formal requisites of a financing statement, amendment of a financing statement and when a mortgage is effective as a financing statement with provisions re secured party's nonliability in contract or tort for debtor's acts or omissions.