§45-36.12. Limitation of secured creditor's liability  


Latest version.
  • A secured creditor is not liable under this Article if it:

    (1)        Established a reasonable procedure to achieve compliance with its obligations under this Article;

    (2)        Complied with that procedure in good faith; and

    (3)        Was unable to comply with its obligations because of circumstances beyond its control.

(2005-123, s. 1.)