Is N.Y. U.C.C. Law § 9-605 — Unknown Debtor or Secondary Obligor still in force?

Statute · New York Uniform Commercial Code

N.Y. U.C.C. Law § 9-605 — Unknown Debtor or Secondary Obligor

N.Y. U.C.C. Law § 9-605

Type: Statute
Source: New York Uniform Commercial Code
Jurisdiction: New York
Current through: Nov 5, 2026 (NY Senate Open Legislation)

Section 9--605. Unknown Debtor or Secondary Obligor.

Citator

N.Y. U.C.C. Law § 9-605 — Unknown Debtor or Secondary Obligor is in force in the current edition of the Code, and nothing recorded condemns it.

Section 9--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

(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.