Missouri Laws 400.9-602 – Waiver of variance of rights and duties
Except as otherwise provided in section 400.9-624, 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 400.9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
Terms Used In Missouri Laws 400.9-602
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
(2) Section 400.9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Section 400.9-607(c), which deals with collection and enforcement of collateral;
(4) Sections 400.9-608(a) and 400.9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Sections 400.9-608(a) and 400.9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Section 400.9-609 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 400.9-610(b), 400.9-611, 400.9-613 and 400.9-614, which deal with disposition of collateral;
(8) Section 400.9-615(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 400.9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) Sections 400.9-620, 400.9-621 and 400.9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) Section 400.9-623, which deals with redemption of collateral;
(12) Section 400.9-624, which deals with permissible waivers; and
(13) Sections 400.9-625 and 400.9-626, which deal with the secured party’s liability for failure to comply with this article.