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the Maine Revised Statutes
2011 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 9-A: TRANSACTIONS
11 §9-1603. Agreement on standards concerning rights and duties
Universal Citation:
11 ME Rev Stat § 9-1603 (2011 through 125th Legis)
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Part 6: DEFAULT
Subpart 1: DEFAULT AND ENFORCEMENT OF SECURITY INTEREST
§9-1603. Agreement on standards concerning rights and duties
(1). The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in section 9-1602 if the standards are not manifestly unreasonable.
[ 1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF) .]
(2). Subsection (1) does not apply to the duty under section 9-1609 to refrain from breaching the peace.
[ 1999, c. 699, Pt. A, §2 (NEW); 1999, c. 699, Pt. A, §4 (AFF) .]
SECTION HISTORY
1999, c. 699, §A2 (NEW). 1999, c. 699, §A4 (AFF).
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