810 ILCS 5/9-402 : Business — Commercial Code — Uniform Commercial Code — Secured Transactions — Rights of Third Parties —402 - Secured party not obligated on contract of debtor or in tort TEXT PDF The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions. 810 ILCS 5/9-402 P.A. 91-357, eff. 7/29/1999; 91-357, eff. 7/29/1999; 91-893, eff. 7/1/2001.