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Pennsylvania · Through 2025-12-01 (Statute Update stamp, 13 Pa.C.S.)

13 Pa.C.S. § 9605: Unknown debtor or secondary obligor.

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Where this section sits in the code
  1. Title 13 - COMMERCIAL CODE
  2. CHAPTER 96 DEFAULT
  3. SUBCHAPTER A DEFAULT AND ENFORCEMENT OF SECURITY INTEREST

(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 to any of the following:

(1) A person that is a debtor or obligor unless the secured party knows:

(i) that the person is a debtor or obligor;

(ii) the identity of the person; and

(iii) how to communicate with the person.

(2) A secured party or lienholder that has filed a financing statement against a person unless the secured party knows:

(i) that the person is a debtor; and

(ii) 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) 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 2026-09-02T16:31:03Z. Source file · JSON

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