Section 9--107B. No Requirement to Acknowledge or Confirm; No Duties. (a) No requirement to acknowledge. A person that has control under Section 9--104, 9--105, or 9--105A is not required to acknowledge that it has control on behalf of another person. (b) No duties or confirmation. If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this article otherwise provides, the person does not owe any duty to the other person and is not required to confirm the acknowledgment to any other person.
No Requirement to Acknowledge or Confirm; No Duties
N.Y. Uniform Commercial Code Law § 9-107B, under Short Title, Definitions, and General Concepts.
N.Y. Uniform Commercial Code Law § 9-107B