2016 Kentucky Revised Statutes
CHAPTER 355 - UNIFORM COMMERCIAL CODE
Article 9 - Secured Transactions -- Sales of Accounts, Contract Rights, and Chattel Paper
355.9-602 Waiver and variance of rights and duties.

Download as PDF 355.9-602 Waiver and variance of rights and duties. Except as otherwise provided in KRS 355.9-624, 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) KRS 355.9-207(2)(d)3., which deals with use and operation of the collateral by the secured party; (2) KRS 355.9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (3) KRS 355.9-607(3), which deals with collection and enforcement of collateral; (4) KRS 355.9-608(1) and 355.9-615(3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition; (5) KRS 355.9-608(1) and 355.9-615(4) to the extent that they require accounting for or payment of surplus proceeds of collateral; (6) KRS 355.9-609 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) KRS 355.9-610(2), 355.9-611, 355.9-613, and 355.9-614, which deal with disposition of collateral; (8) KRS 355.9-615(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) KRS 355.9-616, which deals with explanation of the calculation of a surplus or deficiency; (10) KRS 355.9-620, 355.9-621, and 355.9-622, which deal with acceptance of collateral in satisfaction of obligation; (11) KRS 355.9-623, which deals with redemption of collateral; (12) KRS 355.9-624, which deals with permissible waivers; and (13) KRS 355.9-625 and 355.9-626, which deal with the secured party's liability for failure to comply with this article. Effective: July 1, 2001 History: Created 2000 Ky. Acts ch. 408, sec. 120, effective July 1, 2001.