70A-9a-628. Nonliability and limitation on liability of secured party -- Liability of secondary obligor.
(1) Subject to Subsection, 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: (6) 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 the secured party's failure to comply with this chapter does not affect the liability of the person for a deficiency.
(2) Subject to Subsection, a secured party is not liable because of its status as secured party: (6) to a person that is a debtor or obligor, unless the secured party knows: that the person is a debtor or obligor; the identity of the person; and how to communicate with the person; or to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows: that the person is a debtor; and 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 debtor's representation concerning the purpose for which collateral was to be used, acquired, or held; or 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 Subsectionfor its failure to comply with Section. 70A-9a-625(3)(b) 70A-9a-616
(5) A secured party is not liable under Sectionmore than once with respect to any one secured obligation. 70A-9a-625(3)(b)
(6) Subsectionsanddo 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: (1) (2) the person is a debtor or obligor; and the secured party knows that the information in Subsection, (ii), or (iii) 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. (2)(a)(i)