Illinois Statutes
§ 9-402 — Secured party not obligated on contract of debtor or in tort
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 9 - Secured Transactions
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.
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Illinois § 9-402 (Secured party not obligated on contract of debtor or in tort) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 91-357, eff. 7-29-99; 91-893, eff. 7-1-01.)
Nearby Sections
15
§ 9-101
Short title§ 9-103
§ 9-103§ 9-104
Control of deposit account§ 9-105
§ 9-105§ 9-105A
Control of electronic money§ 9-107A
§ 9-107A§ 9-108
Sufficiency of description§ 9-109
Scope§ 9-112
(Blank)