eLaws | eCases | Oklahoma Administrative Code | Oklahoma Courts | Counties & Cities of Oklahoma | United States Code |
 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 12A. UNIFORM COMMERCIAL CODE

  § 12A-1-9-602. Waiver and variance of rights and duties.  

Latest version.

  • WAIVER AND VARIANCE OF RIGHTS AND DUTIES

    Except as otherwise provided in Section 1-9-624 of this title, 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)  Subparagraph (C) of paragraph (4) of subsection (b) of Section 1-9-207 of this title, which deals with use and operation of the collateral by the secured party;

    (2)  Section 1-9-210 of this title, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;

    (3)  Subsection (c) of Section 1-9-607 of this title, which deals with collection and enforcement of collateral;

    (4)  Subsection (a) of Section 1-9-608 of this title and subsection (c) of Section 1-9-615 of this title to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;

    (5)  Subsection (a) of Section 1-9-608 of this title and subsection (d) of Section 1-9-615 of this title to the extent that they require accounting for or payment of surplus proceeds of collateral;

    (6)  Section 1-9-609 of this title 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 (b) of Section 1-9-610 of this title and Sections 1-9-611, 1-9-613, and 1-9-614 of this title, which deal with disposition of collateral;

    (8)  Subsection (f) of Section 1-9-615 of this title, 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 1-9-616 of this title, which deals with explanation of the calculation of a surplus or deficiency;

    (10)  Sections 1-9-620, 1-9-621, and 1-9-622 of this title, which deal with acceptance of collateral in satisfaction of obligation;

    (11)  Section 1-9-623 of this title, which deals with redemption of collateral;

    (12)  Section 1-9-624 of this title, which deals with permissible waivers; and

    (13)  Sections 1-9-625 and 1-9-626 of this title, which deal with the secured party’s liability for failure to comply with this article.

Added by Laws 2000, c. 371, § 109, eff. July 1, 2001.