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2017 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 9 - Secured Transactions
Part 4 - RIGHTS OF THIRD PARTIES
Section 55-9-402 - Secured party not obligated on contract of debtor or in tort.
Universal Citation:
NM Stat § 55-9-402 (2017)
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55-9-402. 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.
History: 1978 Comp., 55-9-402, enacted by Laws 2001, ch. 139, 64.
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