                                 CODE OF VIRGINIA

WAIVER AND VARIANCE OF RIGHTS AND DUTIES (§ 8.9A-602)

Except as otherwise provided in § 8.9A-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. &#xA7; 8.9A-207 (b) (4) (C), which deals with use and operation of the
collateral by the secured party;

2. &#xA7; 8.9A-210, which deals with requests for an accounting and requests
concerning a list of collateral and statement of account;

3. &#xA7; 8.9A-607 (c), which deals with collection and enforcement of
collateral;

4. &#xA7;&#xA7; 8.9A-608 (a) and 8.9A-615 (c) to the extent that they deal with
application or payment of noncash proceeds of collection, enforcement, or
disposition;

5. &#xA7;&#xA7; 8.9A-608 (a) and 8.9A-615 (d) to the extent that they require
accounting for or payment of surplus proceeds of collateral;

6. &#xA7; 8.9A-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. &#xA7;&#xA7; 8.9A-610 (b), 8.9A-611, 8.9A-613, and 8.9A-614, which deal with
disposition of collateral;

8. &#xA7; 8.9A-615 (f), 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. &#xA7; 8.9A-616, which deals with explanation of the calculation of a surplus
or deficiency;

10. &#xA7;&#xA7; 8.9A-620, 8.9A-621, and 8.9A-622, which deal with acceptance of
collateral in satisfaction of obligation;

11. &#xA7; 8.9A-623, which deals with redemption of collateral;

12. &#xA7; 8.9A-624, which deals with permissible waivers; and

13. &#xA7;&#xA7; 8.9A-625 and 8.9A-626, which deal with the secured
party&#8217;s liability for failure to comply with this title.

HISTORY: 1964, c. 219, § 8.9-501; 1973, c. 509; 2000, c. 1007.