§ 25-9-402. Secured party not obligated on contract of debtor or in tort. - North Carolina Statutes

§ 25‑9‑402. Secured party not obligated on contract of debtor or in tort.

The existence of a securityinterest, agricultural lien, or authority given to a debtor to dispose of oruse collateral, without more, does not subject a secured party to liability incontract or tort for the debtor's acts or omissions. (1961,c. 574; 1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000‑169, s. 1.)