N.J.S.A. 12A:9-602 — Waiver and variance of rights and duties.

12A:9-602 Waiver and variance of rights and duties. 12A:9-602. Waiver and Variance of Rights and Duties. Except as otherwise provided in 12A: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) 12A:9-207 (b) (4) (C), which deals with use and operation of the collateral by the secured party; (2) 12A:9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (3) 12A:9-607 (c), which deals with collection and enforcement of collateral; (4) 12A:9-608 (a), and 12A:9-615 (c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition; (5) 12A:9-608 (a) and 12A:9-615 (d) to the extent that they require accounting for or payment of surplus proceeds of collateral; (6) 12A: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) 12A:9-610 (b), 12A:9-611, 12A:9-613 and 12A:9-614, which deal with disposition of collateral; (8) 12A: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) 12A:9-616, which deals with explanation of the calculation of a surplus or deficiency; (10) 12A:9-620, 12A:9-621 and 12A:9-622, which deal with acceptance of collateral in satisfaction of obligation; (11) 12A:9-623, which deals with redemption of collateral; (12) 12A:9-624, which deals with permissible waivers; and (13) 12A:9-625 and 12A:9-626, which deal with the secured party's liability for failure to comply with this chapter. L.2001, c.117, s.1; amended 2001, c.386, s.92.

This is the verbatim text of N.J.S.A. 12A:9-602, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.