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2020 Oklahoma Statutes
Title 12A. Commercial Code
§12A-1-9-602. Waiver and variance of rights and duties.

Universal Citation: 12A OK Stat § 12A-1-9-602 (2020)
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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.

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