§ 8.9A-605 – Unknown debtor or secondary obligor

a. In general: No duty owed by secured party. Except as provided in subsection (b), 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.

b. Exception: Secured party owes duty to debtor or obligor. 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:

1. the person is a debtor or obligor; and

2. the secured party knows that the information in subsection (a)(1)(A), (B), or

c. 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.