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November 21, 2024 Clouds | 46°F
The 193rd General Court of the Commonwealth of Massachusetts

Section 9-602: Waiver and Variance of Rights and Duties

Section 9–602. Except as otherwise provided in Section 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) Section 9–207(b)(4)(C), which deals with use and operation of the collateral by the secured party;

(2) Section 9–210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;

(3) Section 9–607(c), which deals with collection and enforcement of collateral;

(4) Sections 9–608(a) and (c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;

(5) Sections 9–608(a) and 9–615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;

(6) Section 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) Sections 9–610(b), 9–611, 9–613, and 9–614, which deal with disposition of collateral;

(8) Section 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) Section 9–616, which deals with explanation of the calculation of a surplus or deficiency;

(10) Sections 9–620, 9–621, and 9–622, which deal with acceptance of collateral in satisfaction of obligation;

(11) Section 9–623, which deals with redemption of collateral;

(12) Section 9–624, which deals with permissible waivers; and

(13) Sections 9–625 and 9–626, which deal with the secured party's liability for failure to comply with this article.