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Alaska Statutes.
Title 45. Trade and Commerce
Chapter 29. Secured Transactions
Section 402. Secured Party Not Obligated On Contract of Debtor or in Tort.
previous: Section 401. Alienability of Debtor's Rights.
next: Section 403. Agreement Not to Assert Defenses Against Assignee.

AS 45.29.402. 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.

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This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful.

Last modified 9/3/2005