Nevada § 104.9605 Duty to unknown debtor or secondary obligor

Nevada Statutes

§ 104.9605 — Duty to unknown debtor or secondary obligor

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Default

1. Except as provided in subsection 2, a secured party does not owe a duty based on its status as secured party:

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

(1)That he or she is a debtor or obligor;

(2)His or her identity; and

(3)How to communicate with him or her; or

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

(1)That the person is a debtor; and

(2)His or her identity. 2. 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,

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1. Except as provided in subsection 2, a secured party does not owe a duty based on its status as secured party:
(a) To a person that is a debtor or obligor, unless the secured party knows:
(1) That he or she is a debtor or obligor;
(2) His or her identity; and
(3) How to communicate with him or her; or
(b) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(1) That the person is a debtor; and
(2) His or her identity.
2. 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:
(a) The person is a debtor or obligor; and
(b) The secured party knows that the information in subparagraph (1), (2) or (3) of paragraph (a) of subsection 1 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.

Nevada § 104.9605 (Duty to unknown debtor or secondary obligor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.