§ 36-9-602 — Waiver and variance of rights and duties.

Except as otherwise provided in Section 36-9-624, 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 36-9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party; (2) Section 36-9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (3) Section 36-9-607(c), which deals with collection and enforcement of collateral; (4) Sections 36-9-608(a) and 36-9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition; (5) Sections 36-9-608(a) and 36-9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral; (6) Section 36-9-609 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 36-9-610(b), 36-9-611, 36-9-613, and 36-9-614, which deal with disposition of collateral; (8) Section 36-9-615(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 36-9-616, which deals with explanation of the calculation of a surplus or deficiency; (10) Sections 36-9-620, 36-9-621, and 36-9-622, which deal with acceptance of collateral in satisfaction of obligation; (11) Section 36-9-623, which deals with redemption of collateral; (12) Section 36-9-624, which deals with permissible waivers; and (13) Sections 36-9-625 and 36-9-626, which deal with the secured party's liability for failure to comply with this chapter.

Legislative History

HISTORY: 1988 Act No. 494, SECTION 5; 2001 Act No. 67, SECTION 12.