12A:9-602 Waiver and variance of rights and duties.
12A:9-602. Waiver and Variance of Rights and Duties.
Except as otherwise provided in 12A: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)12A:9-207 (b) (4) (C), which deals with use and operation of the collateral by the secured party;
(2)12A:9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3)12A:9-607 (c), which deals with collection and enforcement of collateral;
(4)12A:9-608 (a), and 12A:9-615 (c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5)12A:9-608 (a) and 12A:9-615 (d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6)12A: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)12A:9-610 (b), 12A:9-611, 12A:9-613 and 12A:9-614, which deal with disposition of collateral;
(8)12A: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)12A:9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) 12A:9-620, 12A:9-621 and 12A:9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) 12A:9-623, which deals with redemption of collateral;
(12) 12A:9-624, which deals with permissible waivers; and
(13) 12A:9-625 and 12A:9-626, which deal with the secured party's liability for failure to comply with this chapter.
L.2001, c.117, s.1; amended 2001, c.386, s.92.
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Last modified: October 11, 2016