R.I. Gen. Laws
Rhode Island General Laws

R.I. Gen. Laws § 6A-9-402 (2026)

Secured party not obligated on contract of debtor or in tort

✓ current as of July 2026
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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.

Notes of Decisions
Cited in 10 cases, 1963–1993 · leading case: In Re the Shepard Co., 342 A.2d 918 (R.I. 1975).
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In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). · cites it 86× “However, as the arguments of the parties indicate, not only are several terms of § 6A-9-402 ambiguous, but the overall meaning and legal effect of the statute, and in particular of subsection 5, are far from obvious.”
Gen. Motors Acceptance Corp. v. Washington Trust Co., 386 A.2d 1096 (R.I. 1978). · cites it 7× “See §6A-9-402 Comment 2. In cases where the “debtor” is not the owner but has only obtained his rights in the collateral due to *202 the owner’s permission, a financing statement in the name of the “debtor” alone fails to give subsequent creditors of the owner any notice that…”
Blasbalg v. Tarro (In Re Hyperion Enter., Inc.), 158 B.R. 555 (D.R.I. 1993). · cites it 4× “G.L. § 6A-9-402 (1985). The fact that the financing statement at issue here was originally filed in connection with another security agreement is of no importance.”
Am. Card Co. v. H. M. H. Co., 196 A.2d 150 (R.I. 1963). · cites it 3× “1956, §6A-9-402, recognizes that a security agreement and a financing statement can be one and the same document.”
Thorp Credit Inc. v. Nason (In Re Nason), 13 B.R. 984 (Bankr. D.R.I. 1981). · cites it 3× “The Comment states even in the case of filings that do not necessarily involve a series of transactions the financing statement is effective to encompass transactions under a security agreement not in existence and not contemplated at the time the notice was filed, if the…”
South Cnty. Sand & Gravel Co. v. Bituminous Pavers Co., 256 A.2d 514 (R.I. 1969). “§6A-9-402(l). This section provides for a so-called “notice filing” as opposed to the former practice of recording the entire instrument.”
Indus. Nat'l Bank of Rhode Island v. Quinn (In Re Dwares), 6 B.R. 335 (Bankr. D.R.I. 1980). · cites it 2× “Rhode Island General Law § 6A-9-402(8) provides, “a financing statement substantially complying with the requirements of this section is effective even though it contains minor errors which are not seriously misleading.”
Mathews v. Arctic Tire, Inc., 262 A.2d 831 (R.I. 1970). “2d 514 , this court pointed out that §6A-9-402 provides for a so-called “notice filing.”
In Re Elliott, 67 B.R. 866 (Bankr. D.R.I. 1986). “LAWS § 6A-9-402 (1985) which include being signed by the debtor.”
Bencharge Credit Serv. v. Lipke (In re Lipke), 124 B.R. 415 (D.R.I. 1991). “(b) A “Fixture Filing” is the filing in the office where a mortgage on the real estate would be filed or recorded of a financing statement covering goods which are or are to become fixtures and which conforms to the requirements of subsection (5) of § 6A-9-402. Id. (emphasis…”
— R.I. Gen. Laws § 6A-9-402(1) — 2 cases
Gen. Motors Acceptance Corp. v. Washington Trust Co., 386 A.2d 1096 (R.I. 1978). “See §6A-9-402 Comment 2. In cases where the “debtor” is not the owner but has only obtained his rights in the collateral due to *202 the owner’s permission, a financing statement in the name of the “debtor” alone fails to give subsequent creditors of the owner any notice that…”
In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). “However, as the arguments of the parties indicate, not only are several terms of § 6A-9-402 ambiguous, but the overall meaning and legal effect of the statute, and in particular of subsection 5, are far from obvious.”
— R.I. Gen. Laws § 6A-9-402(5) — 1 case
In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). “However, as the arguments of the parties indicate, not only are several terms of § 6A-9-402 ambiguous, but the overall meaning and legal effect of the statute, and in particular of subsection 5, are far from obvious.”
— R.I. Gen. Laws § 6A-9-402(8) — 1 case
Indus. Nat'l Bank of Rhode Island v. Quinn (In Re Dwares), 6 B.R. 335 (Bankr. D.R.I. 1980). “Rhode Island General Law § 6A-9-402(8) provides, “a financing statement substantially complying with the requirements of this section is effective even though it contains minor errors which are not seriously misleading.”
— R.I. Gen. Laws § 6A-9-402(l) — 3 cases
In Re the Shepard Co., 342 A.2d 918 (R.I. 1975). “However, as the arguments of the parties indicate, not only are several terms of § 6A-9-402 ambiguous, but the overall meaning and legal effect of the statute, and in particular of subsection 5, are far from obvious.”
South Cnty. Sand & Gravel Co. v. Bituminous Pavers Co., 256 A.2d 514 (R.I. 1969). “§6A-9-402(l). This section provides for a so-called “notice filing” as opposed to the former practice of recording the entire instrument.”
Indus. Nat'l Bank of Rhode Island v. Quinn (In Re Dwares), 6 B.R. 335 (Bankr. D.R.I. 1980). “Rhode Island General Law § 6A-9-402(8) provides, “a financing statement substantially complying with the requirements of this section is effective even though it contains minor errors which are not seriously misleading.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.