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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 9. · Article 9. SECURED TRANSACTIONS · Part 6. DEFAULT

11-9-602. Waiver and variance of rights and duties.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. 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:

  2. (1)

    Subparagraph (b)(4)(C) of Code Section 11-9-207, which deals with use and operation of the collateral by the secured party;#

  3. (2)

    Code Section 11-9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;#

  4. (3)

    Subsection (c) of Code Section 11-9-607, which deals with collection and enforcement of collateral;#

  5. (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;#

  6. (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;#

  7. (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;#

  8. (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;#

  9. (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;#

  10. (9)

    Code Section 11-9-616, which deals with explanation of the calculation of a surplus or deficiency;#

  11. (10)

    Code Sections 11-9-620, 11-9-621, and 11-9-622, which deal with acceptance of collateral in satisfaction of obligation;#

  12. (11)

    Code Section 11-9-623, which deals with redemption of collateral;#

  13. (12)

    Code Section 11-9-624, which deals with permissible waivers; and#

  14. (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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-9-602, enacted by Ga. L. 2001, p. 362, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 899 to 900; merge action: carried; file SHA-256 ad397fccbf21.