{"data":{"id":"us-nv/nrs-104.9628","jurisdiction":"us-nv","citation":"NRS 104.9628","heading":"Nonliability and limitation on liability of secured party; liability of secondary obligor.","body":"1. Subject to subsection 6, unless a secured party knows that a person is a debtor or obligor, knows his or her identity, and knows how to communicate with him or her:\n(a) The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against him or her, for failure to comply with this article; and\n(b) The secured party’s failure to comply with this article does not affect the liability of the person for a deficiency.\n2. Subject to subsection 6, a secured party is not liable because of its status as a secured party:\n(a) To a person that is a debtor or obligor, unless the secured party knows:\n(1) That he or she is a debtor or obligor;\n(2) His or her identity; and\n(3) How to communicate with him or her; or\n(b) To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:\n(1) That he or she is a debtor; and\n(2) His or her identity.\n3. A secured party is not liable to any person, and a person’s liability for a deficiency is not affected, because of any act or omission arising out of the secured party’s reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party’s belief is based on its reasonable reliance on:\n(a) A debtor’s representation concerning the purpose for which collateral was to be used, acquired or held; or\n(b) An obligor’s representation concerning the purpose for which a secured obligation was incurred.\n4. A secured party is not liable to any person under paragraph (b) of subsection 3 of NRS 104.9625 for its failure to comply with NRS 104.9616.\n5. A secured party is not liable under paragraph (b) of subsection 3 of NRS 104.9625 more than once with respect to any one secured obligation.\n6. Subsections 1 and 2 do not apply to limit the liability of 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:\n(a) The person is a debtor or obligor; and\n(b) The secured party knows that the information specified in subparagraph (1), (2) or (3) of paragraph (a) of subsection 2 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.","path":["TITLE 8 — COMMERCIAL INSTRUMENTS AND TRANSACTIONS","CHAPTER 104 - UNIFORM COMMERCIAL CODE—ORIGINAL ARTICLES","SECURED TRANSACTIONS","Transitional Provisions Regarding 2001 Amendments"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-104.html#NRS104Sec9628","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:31Z","sha256":"f47999f9b24ae658b06d8645035ab2a331c318dd7c02cb58ab0d94d7e087a711","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-104.9627","next":"us-nv/nrs-104.9702"},"notice":"GroundRules: Original legal text. Not legal advice."}