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Current as of January 01, 2025 | Updated by Findlaw Staff
Except as otherwise provided in KRS 355.9-624, 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)KRS 355.9-207(2)(d)3., which deals with use and operation of the collateral by the secured party;
(2)KRS 355.9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3)KRS 355.9-607(3), which deals with collection and enforcement of collateral;
(4)KRS 355.9-608(1) and 355.9-615(3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5)KRS 355.9-608(1) and 355.9-615(4) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6)KRS 355.9-609 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)KRS 355.9-610(2), 355.9-611, 355.9-613, and 355.9-614, which deal with disposition of collateral;
(8)KRS 355.9-615(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)KRS 355.9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10)KRS 355.9-620, 355.9-621, and 355.9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11)KRS 355.9-623, which deals with redemption of collateral;
(12)KRS 355.9-624, which deals with permissible waivers; and
(13)KRS 355.9-625 and 355.9-626, which deal with the secured party's liability for failure to comply with this article.
Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIX. Commerce and Trade § 355.9-602.Waiver and variance of rights and duties - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxix-commerce-and-trade/ky-rev-st-sect-355-9-602/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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