Ala. Code § 7-9A-605

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

Section 7-9A-605 - [Effective Until 7/1/2024] Unknown debtor or secondary obligor

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.

Ala. Code § 7-9A-605 (1975)

Act 2001-481, p. 647, §1.

This section is set out more than once due to postponed, multiple, or conflicting amendments.