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Me. Rev. Stat. tit. 11, § 9-1602

Waiver and variance of rights and duties

Known as the Uniform Commercial Code

The act spans §§ 2-101 to 9-1709 (548 sections).

PL 1999, c. 699, §A2 (NEW)

Except as otherwise provided in section 9‑1624, 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). Section 9‑1207, subsection (2), paragraph (d), subparagraph (iii), which deals with use and operation of the collateral by the secured party;

(2). Section 9‑1210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;

(3). Section 9‑1607, subsection (3), which deals with collection and enforcement of collateral;

(4). Section 9‑1608, subsection (1) and section 9‑1615, subsection (3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement or disposition;

(5). Section 9‑1608, subsection (1) and section 9‑1615, subsection (4) to the extent that they require accounting for or payment of surplus proceeds of collateral;

(6). Section 9‑1609 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). Section 9‑1610, subsection (2) and sections 9‑1611, 9‑1613 and 9‑1614, which deal with disposition of collateral;

(8). Section 9‑1615, subsection (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). Section 9‑1616, which deals with explanation of the calculation of a surplus or deficiency;

(10). Sections 9‑1620, 9‑1621 and 9‑1622, which deal with acceptance of collateral in satisfaction of obligation;

(11). Section 9‑1623, which deals with redemption of collateral;

(12). Section 9‑1624, which deals with permissible waivers; and

(13). Sections 9‑1625 and 9‑1626, which deal with the secured party's liability for failure to comply with this article.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.