§ 28:9-624. Waiver.

Current through October 23, 2012

(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under § 28:9-611 only by an agreement to that effect entered into and authenticated after default.

(b) A debtor may waive the right to require disposition of collateral under § 28:9-620(e) only by an agreement to that effect entered into and authenticated after default.

(c) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under § 28:9-623 only by an agreement to that effect entered into and authenticated after default.

                
                    var val = document.getElementById('citecontent').innerHTML;
                    art.dialog.defaults.title = window.location.href;
                    art.dialog.data('cite', val);
                    art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                    art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');

(Oct. 26, 2000, D.C. Law 13-201, § 101, 47 DCR 7576.)

HISTORICAL AND STATUTORY NOTES

UNIFORM COMMERCIAL CODE COMMENT

Source

Former Sections 9-504(3), 9-505, 9-506.

Waiver

This section is a limited exception to Section 9-602, which generally prohibits waiver by debtors and obligors. It makes no provision for waiver of the rule prohibiting a secured party from buying at its own private disposition. Transactions of this kind are equivalent to "strict foreclosures" and are governed by Sections 9-620, 9-621, and 9-622.

Legislative History of Laws

For Law 13-201, see notes following § 28:9-101.