Wisconsin Statutes 409.602 – Waiver and variance of rights and duties
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Except as otherwise provided in s. 409.624, 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:
Terms Used In Wisconsin Statutes 409.602
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- 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: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
(1) Section 409.207 (2) (d) 3., which deals with use and operation of the collateral by the secured party;
(2) Section 409.210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Section 409.607 (3), which deals with collection and enforcement of collateral;
(4) Sections 409.608 (1) and 409.615 (3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Sections 409.608 (1) and 409.615 (4) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Section 409.609 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;
(8) Section 409.615 (6), 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 409.616, which deals with explanation of the calculation of a surplus or deficiency;
(10) Sections 409.620, 409.621, and 409.622, which deal with acceptance of collateral in satisfaction of obligation;
(11) Section 409.623, which deals with redemption of collateral;
(12) Section 409.624, which deals with permissible waivers; and
(13) Sections 409.625 and 409.626, which deal with the secured party’s liability for failure to comply with this chapter.