D.C. Code § 28:9-605: Unknown debtor or secondary obligor.
Where this section sits in the code
- Title 28. Commercial Instruments and Transactions. [Enacted title]
- Subtitle I. Uniform Commercial Code.
- Article 9. Secured Transactions.
- Part VI. Default.
- Subpart 1. Default and Enforcement of Security Interest.
(a)
Except as provided in subsection (b), a secured party does not owe a duty based on its status as a third 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)
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) of this section 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.
Collected 2026-08-29T05:44:07Z. Source file · JSON