Illinois Compiled Statutes 810 ILCS 5 Uniform Commercial Code. Section 9-602

    (810 ILCS 5/9-602)

    Sec. 9-602. Waiver and variance of rights and duties. Except as otherwise provided in Section 9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed Sections:

        (1) Section 9-207(b)(4)(C), which deals with use and

    operation of the collateral by the secured party;

        (2) Section 9-210, which deals with requests for an

    accounting and requests concerning a list of collateral and statement of account;

        (3) Section 9-607(c), which deals with collection and

    enforcement of collateral;

        (4) Sections 9-608(a) and 9-615(c) to the extent that

    they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;

        (5) Sections 9-608(a) and 9-615(d) to the extent that

    they require accounting for or payment of surplus proceeds of collateral;

        (6) Section 9-609 to the extent that it imposes upon

    a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;

        (7) Sections 9-610(b), 9-611, 9-613, and 9-614, which

    deal with disposition of collateral;

        (8) Section 9-615(f), which deals with calculation of

    a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;

        (9) Section 9-616, which deals with explanation of

    the calculation of a surplus or deficiency;

        (10) Sections 9-620, 9-621, and 9-622, which deal

    with acceptance of collateral in satisfaction of obligation;

        (11) Section 9-623, which deals with redemption of


        (12) Section 9-624, which deals with permissible

    waivers; and

        (13) Sections 9-625 and 9-626, which deal with the

    secured party's liability for failure to comply with this Article.

(Source: P.A. 91-893, eff. 7-1-01.)

Sections:  Previous  9-523  9-524  9-525  9-526  9-527  9-528  9-601  9-602  9-603  9-604  9-605  9-606  9-607  9-608  9-609  Next

Last modified: February 18, 2015