New Jersey § 12a:9-628
Full text of New Jersey New Jersey Statutes § 12a:9-628, with citation guidance and answers to common questions.
§ 12a:9-628.
(a) Limitation of liability of secured party for noncompliance with chapter. 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: (1) 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 (2) the secured party's failure to comply with this chapter does not affect the liability
of the person for a deficiency. (b) Limitation of liability based on status as secured party. A secured party is not liable because of its status as secured party: (1) to a person who is a debtor or obligor, unless the secured party knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C) how to communicate with the person; or (2) to a secured party or lienholder that has filed a financing statement against
a person, unless the secured party knows: (A) that the person is a debtor; and (B) the identity of the person. (c) Limitation of liability if reasonable belief that transaction not a consumer-goods
transaction or consumer transaction. 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: (1) a debtor's representation concerning the purpose for which collateral was to be
used, acquired, or held; or (2) an obligor's representation concerning the purpose for which a secured obligation
was incurred. (d) Limitation of liability for statutory damages. A secured party is not liable to any person under 12A:9-625 (c) (2) for its failure to comply with 12A:9-616. (e) Limitation of multiple liability for statutory damages. A secured party is not liable under 12A:9-625 (c) (2) more than once with respect to any one secured obligation.
Frequently Asked Questions About New Jersey § 12a:9-628
What does New Jersey Statutes § 12a:9-628 cover?
Section 12a:9-628 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 12a:9-628?
A common citation format is "New Jersey Statutes § 12a:9-628" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:9-628 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.