70A-9a-602. Waiver and variance of rights and duties.

311 words·~1 min read·/ut/title-70a/chapter-9a/70a-9a-602

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

Except as otherwise provided in Section 70A-9a-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)Subsection 70A-9a-207(2)(d)(iii) , which deals with use and operation of the collateral by the secured party;

(2)Section 70A-9a-210 , which deals with requests for an accounting and requests concerning a list of collateral and statement of account;

(3)Subsection 70A-9a-607(3) , which deals with collection and enforcement of collateral;

(4)Subsections 70A-9a-608(1) and 70A-9a-615(3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;

(5)Subsections 70A-9a-608(1) and 70A-9a-615(4) to the extent that they require accounting for or payment of surplus proceeds of collateral;

(6)Section 70A-9a-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)Subsection 70A-9a-610(2) and Sections 70A-9a-611 , 70A-9a-613 , and 70A-9a-614 , which deal with disposition of collateral;

(8)Subsection 70A-9a-615(6) , 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 70A-9a-616 , which deals with explanation of the calculation of a surplus or deficiency;

(10)Sections 70A-9a-620 , 70A-9a-621 , and 70A-9a-622 , which deal with acceptance of collateral in satisfaction of obligation;

(11)Section 70A-9a-623 , which deals with redemption of collateral;

(12)Section 70A-9a-624 , which deals with permissible waivers; and

(13)Sections 70A-9a-625 and 70A-9a-626 , which deal with the secured party's liability for failure to comply with this chapter.

Enacted by Chapter 252 , 2000 General Session