Where Collateral Is Not Owned by Debtor

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 COL070307 DIV. 9 SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER 9502(2) or under Section 9504(1), and is not liable for the debt or for any deficiency after resale, and he has the same right as the debtor.

(a)To receive statements under Section 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 9505;

(c)To redeem the collateral under Section 9506;

(d)To obtain injunctive or other relief under Section 9507(1); and

(e)To recover losses caused to him under Section 9208(2).