§ 10:9-602 — Waiver and variance of rights and duties

Louisiana § 10:9-602

• Jurisdiction: Louisiana
• Title 10: Commercial Laws

Text

Except as otherwise provided in R.S. 10:9-624, 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) R.S. 10:9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
(2) R.S. 10:9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) R.S. 10:9-607(c), which deals with collection and enforcement of collateral;
(4) R.S. 10:9-608(a) and 9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) R.S. 10:9-608(a) and 9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) R.S. 10:9-609 to the extent that it prohibits a secured party from taking possession of collateral;
(7) R.S. 10:9-610(b), 9-611, 9-613, and 9-614, which deal with disposition of collateral;
(8) R.S. 10:9-615(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) R.S. 10:9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) R.S. 10:9-620, 9-621, and 9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) R.S. 10:9-623, which deals with redemption of collateral;
(12) R.S. 10:9-624, which deals with permissible waivers; and
(13) R.S. 10:9-625 and 9-626, which deal with the secured party's liability for failure to comply with this Chapter.

Legislative History

Acts 1989, No. 135, §8, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.