2010 Georgia Code
TITLE 11 - COMMERCIAL CODE
ARTICLE 9 - SECURED TRANSACTIONS
PART 6 - DEFAULT
PART 1 - DEFAULT AND ENFORCEMENT OF SECURITY INTEREST
§ 11-9-602 - Waiver and variance of rights and duties
O.C.G.A.
11-9-602 (2010)
11-9-602. Waiver and variance of rights and duties.
Except as otherwise provided in Code Section
11-9-624, 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) Subparagraph (b)(4)(C) of Code Section
11-9-207, which deals with use and operation of the collateral by the secured party;
(2) Code Section
11-9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Subsection (c) of Code Section
11-9-607, which deals with collection and enforcement of collateral;
(4) Subsection (a) of Code Section
11-9-608 and subsection (c) of Code Section
11-9-615 to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Subsection (a) of Code Section
11-9-608 and subsection (d) of Code Section
11-9-615 to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Code Section
11-9-609 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) Subsection (b) of Code Section
11-9-610 and Code Sections
11-9-611,
11-9-613, and
11-9-614, which deal with disposition of collateral;
(8) Subsection (f) of Code Section
11-9-615, 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) Code Section
11-9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) Code Sections
11-9-620,
11-9-621, and
11-9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) Code Section
11-9-623, which deals with redemption of collateral;
(12) Code Section
11-9-624, which deals with permissible waivers; and
(13) Code Sections
11-9-625 and
11-9-626, which deal with the secured party's liability for failure to comply with this article.
Graham Syfert - Jacksonville Lawyer