§ 47-9-602 — Waiver and variance of rights and duties

Except as otherwise provided in § 47-9-624 , 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 47-9-207(b)(4)(C) , which deals with use and operation of the collateral by the secured party; (2) Section 47-9-210 , which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (3) Section 47-9-607(c) , which deals with collection and enforcement of collateral; (4) Sections 47-9-608(a) and 47-9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition; (5) Sections 47-9-608(a) and 47-9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral; (6) Section 47-9-609 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 47-9-610(b) , 47-9-611 , 47-9-613 , and 47-9-614 , which deal with disposition of collateral; (8) Section 47-9-615(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 47-9-616 , which deals with explanation of the calculation of a surplus or deficiency; (10) Sections 47-9-620 , 47-9-621 , and 47-9-622 , which deal with acceptance of collateral in satisfaction of obligation; (11) Section 47-9-623 , which deals with redemption of collateral; (12) Section 47-9-624 , which deals with permissible waivers; and (13) Sections 47-9-625 and 47-9-626 , which deal with the secured party's liability for failure to comply with this chapter.

Legislative History

Acts 2000, ch. 846, § 1.