Unless otherwise agreed, when a secured party knows that collateral is owned by a person who is not the debtor, the owner of the collateral is entitled to receive from the secured party any surplus under section 554.9502, subsection 2, or under section 554.9504, subsection 1, and is not liable for the debt or for any deficiency after resale, and the owner has the same right as the debtor
a. to receive statements under section 554.9208;
b. to receive notice of and to object to a secured party's proposal to retain the collateral in satisfaction of the indebtedness under section 554.9505;
c. to redeem the collateral under section 554.9506;
d. to obtain injunctive or other relief under section 554.9507, subsection 1; and
e. to recover losses caused to the owner under section 554.9208, subsection 2.e. to recover losses caused to the owner under section 554.9208, subsection 2.
[C66, 71, 73, 75, 77, 79, 81, § 554.9112]
Referred to in § 15E.91, 16.26, 16A.9
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