North Dakota Code 41-09-102 – (9-605) Unknown debtor or secondary obligor
1. Except as provided in subsection 2, a secured party does not owe a duty based on its status as secured party:
Terms Used In North Dakota Code 41-09-102
- Debtor: means a natural person whose name was provided in a financing statement record as an individual debtor or one of the types of persons listed in section 41-09-76. See North Dakota Code 41-10-01
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
a. To a person that is a debtor or obligor, unless the secured party knows:
(1) That the person is a debtor or obligor; (2) The identity of the person; and
(3) How to communicate with the person; or
b. To a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:
(1) That the person is a debtor; and
(2) The identity of the person.
2. 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:
a. The person is a debtor or obligor; and
b. The secured party knows that the information in subdivision a of subsection 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.