Oregon Statutes 79.0628 – UCC 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor
(1) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person and knows how to communicate with the person:
Terms Used In Oregon Statutes 79.0628
- Collateral: means the property subject to a security interest or agricultural lien. See Oregon Statutes 79.0102
- Consumer goods: means goods that are used or bought for use primarily for personal, family or household purposes. See Oregon Statutes 79.0102
- Consumer transaction: means a transaction in which:
(i) An individual incurs an obligation primarily for personal, family or household purposes;
(ii) A security interest secures the obligation; and
(iii) The collateral is held or acquired primarily for personal, family or household purposes. See Oregon Statutes 79.0102
- Consumer-goods transaction: means a consumer transaction in which:
(A) An individual incurs an obligation primarily for personal, family or household purposes; and
(B) A security interest in consumer goods secures the obligation. See Oregon Statutes 79.0102
- Financing statement: means a record or records composed of an initial financing statement and any filed record relating to the initial financing statement. See Oregon Statutes 79.0102
- Goods: means all things that are movable when a security interest attaches. See Oregon Statutes 79.0102
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Obligor: means a person that, with respect to an obligation secured by a security interest in or an agricultural lien on the collateral:
(i) Owes payment or other performance of the obligation;
(ii) Has provided property other than the collateral to secure payment or other performance of the obligation; or
(iii) Is otherwise accountable in whole or in part for payment or other performance of the obligation. See Oregon Statutes 79.0102
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(a) The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and
(b) The secured party’s failure to comply with this chapter does not affect the liability of the person for a deficiency.
(2) A secured party is not liable because of its status as secured party:
(a) 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
(b) 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.
(3) 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:
(a) A debtor’s representation concerning the purpose for which collateral was to be used, acquired or held; or
(b) An obligor’s representation concerning the purpose for which a secured obligation was incurred.
(4) A secured party is not liable to any person under ORS § 79.0625 (3)(b) for its failure to comply with ORS § 79.0616.
(5) A secured party is not liable under ORS § 79.0625 (3)(b) more than once with respect to any one secured obligation. [2001 c.445 § 126]
[1961 c.726 § 79.1010; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1020; 1973 c.504 § 5; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1030; 1973 c.504 § 6; 1985 c.676 § 79.1030; 1995 c.328 § 53; 1997 c.150 § 21; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1040; 1973 c.504 § 7; 1989 c.567 § 1; 1993 c.390 § 1; 1997 c.150 § 22; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1050; 1963 c.402 § 10; 1973 c.504 § 8; 1985 c.676 § 79.1050; 1989 c.813 § 3; 1993 c.545 § 121; 1995 c.328 § 54; 1997 c.150 § 23; 1999 c.59 § 17; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1060; 1973 c.504 § 9; 1995 c.328 § 55; 1997 c.150 § 24; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1070; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1080; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1090; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1100; 1999 c.715 § 3; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1110; repealed by 1991 c.83 § 1]
[1961 c.726 § 79.1120; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.1130; 1989 c.676 § 82; repealed by 2001 c.445 § 187]
[1995 c.328 § 56; repealed by 2001 c.445 § 187]
[1995 c.328 § 57; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2010; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2020; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2030; 1973 c.504 § 11; 1985 c.676 § 79.2030; 1995 c.79 § 28; 1995 c.328 § 58; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2040; 1963 c.402 § 5; 1973 c.504 § 12; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2050; 1973 c.504 § 13; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2060; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2070; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.2080; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3010; 1973 c.504 § 14; 1983 c.394 § 1; 1985 c.765 § 79.3010; 1989 c.813 § 1; 1991 c.937 § 1; 1995 c.328 § 59; repealed by 2001 c.445 § 187]
[1973 c.504 § 10; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3020; 1965 c.209 § 1; 1967 c.395 § 2; 1969 c.386 § 1; 1973 c.504 § 15; 1985 c.16 § 445; 1985 c.676 § 79.3020; 1989 c.111 § 9; 1993 c.390 § 2; 1995 c.79 § 29; 1995 c.328 § 60; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3030; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3040; 1973 c.504 § 16; 1985 c.676 § 79.3040; 1995 c.328 § 61; 1997 c.150 § 25; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3050; 1973 c.504 § 17; 1985 c.676 § 79.3050; 1995 c.328 § 62; 1997 c.150 § 26; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3060; 1973 c.504 § 18; 1995 c.328 § 63; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3070; 1973 c.504 § 19; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3080; 1973 c.504 § 20; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3090; 1985 c.676 § 79.3090; 1993 c.545 § 122; 1995 c.328 § 64; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3100; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3110; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3120; 1973 c.504 § 21; 1983 c.394 § 2; 1985 c.676 § 79.3120; 1985 c.765 § 2; 1989 c.813 § 2; 1991 c.937 § 2; 1993 c.390 § 3; 1995 c.79 § 30; 1995 c.328 § 65; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3130; 1973 c.504 § 22; 1993 c.155 § 3; 1999 c.645 § 1; repealed by 2001 c.445 § 187]
[1999 c.715 § 2; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3140; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3150; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3160; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3170; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.3180; 1973 c.504 § 23; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4010; 1963 c.402 § 6; 1973 c.504 § 24; 1975 c.703 § 3; 1977 c.452 § 1; repealed by 2001 c.445 § 187]
[1977 c.452 § 3; repealed by 1989 c.111 § 14]
[1999 c.715 § 9; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4020; 1963 c.402 § 7; 1973 c.504 § 25; 1987 c.552 § 1; 1989 c.111 § 1; 1991 c.134 § 1; repealed by 2001 c.445 § 187]
[1973 c.504 § 31; repealed by 2001 c.445 § 187]
[1963 c.370 1,2; 1977 c.452 § 2; 1989 c.111 § 2; 1993 c.155 § 1; 1999 c.464 § 1; 1999 c.715 § 4; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4030; 1963 c.402 § 8; 1971 c.621 § 13; 1973 c.504 § 26; 1975 c.607 § 15; 1979 c.833 § 16; 1981 c.835 § 6; 1987 c.552 § 2; 1989 c.111 § 3; 1993 c.155 § 2; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4040; 1971 c.621 § 14; 1973 c.504 § 27; 1975 c.607 § 16; 1979 c.833 § 17; 1981 c.835 § 7; 1989 c.111 § 4; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4050; 1971 c.621 § 15; 1973 c.504 § 28; 1975 c.607 § 17; 1979 c.833 § 18; 1981 c.835 § 8; 1989 c.111 § 5; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4060; 1971 c.621 § 16; 1973 c.504 § 29; 1975 c.607 § 18; 1979 c.833 § 19; 1981 c.835 § 9; 1989 c.111 § 6; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.4070; 1971 c.621 § 17; 1973 c.504 § 30; 1975 c.607 § 19; 1979 c.833 § 20; 1981 c.835 § 10; 1983 c.246 § 1; 1985 c.469 § 79.4070; 1989 c.111 § 7; 1999 c.715 § 5; repealed by 2001 c.445 § 187]
[1979 c.548 § 2; 1989 c.111 § 8; repealed by 2001 c.445 § 187]
[1979 c.548 § 3; 1983 c.220 § 3; 1989 c.111 § 13; 1993 c.66 § 8; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5010; 1973 c.504 § 32; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5020; 1973 c.504 § 33; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5030; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5040; 1973 c.504 § 34; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5050; 1973 c.504 § 35; 1981 c.573 § 1; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5060; repealed by 2001 c.445 § 187]
[1961 c.726 § 79.5070; 1981 c.573 § 2; 1995 c.618 § 46; repealed by 2001 c.445 § 187]
[1983 c.246 § 3; renumbered 79.8010 in 1987]
[1987 c.645 § 1; renumbered 80.100 in 2001]
[1999 c.715 § 11; 2001 c.535 § 26; renumbered 80.103 in 2001]
[1987 c.645 § 4; 1999 c.464 § 2; renumbered 80.106 in 2001]
[1987 c.645 § 2; renumbered 80.109 in 2001]
[1987 c.645 § 3; renumbered 80.112 in 2001]
[1987 c.645 § 7; renumbered 80.115 in 2001]
[1987 c.645 § 5; renumbered 80.118 in 2001]
[1987 c.645 § 6; renumbered 80.121 in 2001]
[1987 c.645 § 11; renumbered 80.124 in 2001]
[1987 c.645 § 9; renumbered 80.127 in 2001]
[1987 c.645 § 8; renumbered 80.130 in 2001]
[1987 c.645 § 10; repealed by 1989 c.111 § 15]
[Formerly 79.6010; 2001 c.445 § 157; renumbered 79.0528 in 2001]