Minnesota § 336.9-605 336.9-605 UNKNOWN DEBTOR OR SECONDARY OBLIGOR.

Minnesota Statutes

§ 336.9-605 — 336.9-605 UNKNOWN DEBTOR OR SECONDARY OBLIGOR.

Minnesota § 336.9-605

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.9-605 (336.9-605 UNKNOWN DEBTOR OR SECONDARY OBLIGOR.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.9-605 (2026).

Text

(a)In general: no duty owed by secured party.Except as provided in subsection (b), a secured party does not owe a duty based on its status as secured party:

(1)to a person that is a debtor or obligor, unless the secured party knows:

(A)that the person is a debtor or obligor;

(B)the identity of the person; and

(C)how to communicate with the person; or

(2)to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:

(A)that the person is a debtor; and

(B)the identity of the person.

(b)Exception: Secured party owes duty to debtor or obligor.A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable ele

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(a)In general: no duty owed by secured party.Except as provided in subsection (b), a secured party does not owe a duty based on its status as secured party:
(1) to a person that is a debtor or obligor, unless the secured party knows:
(A) that the person is a debtor or obligor;
(B) the identity of the person; and
(C) how to communicate with the person; or
(2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(A) that the person is a debtor; and
(B) the identity of the person.
(b)Exception: Secured party owes duty to debtor or obligor.A secured party owes a duty based on its status as a secured party to a person if, at the time the secured party obtains control of collateral that is a controllable account, controllable electronic record, or controllable payment intangible or at the time the security interest attaches to the collateral, whichever is later:
(1) the person is a debtor or obligor; and
(2) the secured party knows that the information in subsection (a)(1)(A), (B), or (C), relating to the person is not provided by the collateral, a record attached to or logically associated with the collateral, or the system in which the collateral is recorded.