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Delaware · Through 2026-08-10 (85 Del. Laws, c. 421, 424) · Newer source version available

6 Del. C. § 9-605: Unknown debtor or secondary obligor.

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Where this section sits in the code
  1. Title 6. Commerce and Trade
  2. SUBTITLE I
  3. Uniform Commercial Code
  4. ARTICLE 9. Secured Transactions
  5. Part 6
  6. Default

(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.

Collected 2026-09-05T23:02:06Z. Source file · JSON

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