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Can you summarize NHRS 382-A:9-602?
UNIFORM COMMERCIAL CODE > Waiver and Variance of Rights and Duties.
Short Summary
This legal document pertains to the waiver and variance of rights and duties in secured transactions governed by the Uniform Commercial Code (UCC). It specifies that debtors or obligors cannot waive or vary the rules stated in certain listed sections, unless otherwise provided in Section 9-624. These sections include provisions related to the use and operation of collateral by the secured party, requests for accounting and information about collateral, collection and enforcement of collateral, application or payment of noncash proceeds, accounting for surplus proceeds, duty to take possession of collateral without breach of peace, disposition of collateral, calculation of deficiency or surplus, explanation of surplus or deficiency calculation, acceptance of collateral in satisfaction of obligation, redemption of collateral, and secured party’s liability for failure to comply with the UCC. Section 9-624 provides permissible waivers. The document does not mention specific penalties for non-compliance or violation of its provisions.
Whom does it apply to?
Debtors, obligors, and secured parties involved in secured transactions
What does it govern?
Rights and duties related to secured transactions under the Uniform Commercial Code (UCC)
What are exemptions?
Section 9-624 provides exceptions where the rules stated in the listed sections can be waived
What are the Penalties?
No specific penalties mentioned in this document
Jurisdiction
New Hampshire