Vermont Statutes Title 9 Sec. 9-602
Terms Used In Vermont Statutes Title 9 Sec. 9-602
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- 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: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
§ 9—602. Waiver and variance of rights and duties
Except as otherwise provided in section 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) subdivision 9—207(b)(4)(C) of this title, which deals with use and operation of the collateral by the secured party;
(2) section 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 9—607(c) of this title, which deals with collection and enforcement of collateral;
(4) subsections 9—608(a) and 9—615(c) of this title to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) subsections 9—608(a) and 9—615(d) of this title to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) section 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 9—610(b) of this title, and sections 9—611, 9—613, and 9—614 of this title, which deal with disposition of collateral;
(8) subsection 9—615(f) 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 9—616 of this title, which deals with explanation of the calculation of a surplus or deficiency;
(10) sections 9—620, 9—621, and 9—622 of this title, which deal with acceptance of collateral in satisfaction of obligation;
(11) section 9—623 of this title, which deals with redemption of collateral;
(12) section 9—624 of this title, which deals with permissible waivers; and
(13) sections 9—625 and 9—626 of this title, which deal with the secured party’s liability for failure to comply with this article. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)