Sec. 45.29.602. Waiver and variance of rights and duties.

296 words·~1 min read·/ak/title-45/chapter-29/45-29-602

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Except as otherwise provided in AS 45.29.624 , 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 sections:

(1)AS 45.29.207 (b)(4)(C), which deals with use and operation of the collateral by the secured party;

(2)AS 45.29.210 , which deals with requests for an accounting and requests concerning a list of collateral and statement of account;

(3)AS 45.29.607 (c), which deals with collection and enforcement of collateral;

(4)AS 45.29.608

(a)and 45.29.615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;

(5)AS 45.29.608

(a)and 45.29.615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;

(6)AS 45.29.609 to the extent that it imposes on a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;

(7)AS 45.29.610 (b), 45.29.611, 45.29.613, and 45.29.614, which deal with disposition of collateral;

(8)AS 45.29.615 (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)AS 45.29.616 , which deals with explanation of the calculation of a surplus or deficiency;

(10)AS 45.29.620 — 45.29.622, which deal with acceptance of collateral in satisfaction of obligation;

(11)AS 45.29.623 , which deals with redemption of collateral;

(12)AS 45.29.624 , which deals with permissible waivers; and

(13)AS 45.29.625 and 45.29.626, which deal with the secured party's liability for failure to comply with this chapter.