8.9A-602 - A-602. Waiver and variance of rights and duties. - Virginia Statutes

§ 8.9A-602. Waiver and variance of rights and duties.

Except as otherwise provided in § 8.9A-624, to the extent that they giverights to a debtor or obligor and impose duties on a secured party, thedebtor or obligor may not waive or vary the rules stated in the followinglisted sections:

(1) § 8.9A-207 (b) (4) (C), which deals with use and operation of thecollateral by the secured party;

(2) § 8.9A-210, which deals with requests for an accounting and requestsconcerning a list of collateral and statement of account;

(3) § 8.9A-607 (c), which deals with collection and enforcement of collateral;

(4) §§ 8.9A-608 (a) and 8.9A-615 (c) to the extent that they deal withapplication or payment of noncash proceeds of collection, enforcement, ordisposition;

(5) §§ 8.9A-608 (a) and 8.9A-615 (d) to the extent that they requireaccounting for or payment of surplus proceeds of collateral;

(6) § 8.9A-609 to the extent that it imposes upon a secured party that takespossession of collateral without judicial process the duty to do so withoutbreach of the peace;

(7) §§ 8.9A-610 (b), 8.9A-611, 8.9A-613, and 8.9A-614, which deal withdisposition of collateral;

(8) § 8.9A-615 (f), which deals with calculation of a deficiency or surpluswhen a disposition is made to the secured party, a person related to thesecured party, or a secondary obligor;

(9) § 8.9A-616, which deals with explanation of the calculation of a surplusor deficiency;

(10) §§ 8.9A-620, 8.9A-621, and 8.9A-622, which deal with acceptance ofcollateral in satisfaction of obligation;

(11) § 8.9A-623, which deals with redemption of collateral;

(12) § 8.9A-624, which deals with permissible waivers; and

(13) §§ 8.9A-625 and 8.9A-626, which deal with the secured party's liabilityfor failure to comply with this title.

(1964, c. 219, § 8.9-501; 1973, c. 509; 2000, c. 1007.)