Ala. Code § 7-9A-402

Current with legislation from 2024 effective through May 17, 2024.

Section 7-9A-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.

Ala. Code § 7-9A-402 (1975)

Act 2001-481, p. 647, §1.