(810 ILCS 5/9-602)
Sec. 9-602.
Waiver and variance of rights and duties.
Except as
otherwise provided in Section 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:
(1) Section 9-207(b)(4)(C), which deals with use and |
| operation of the collateral by the secured party;
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(2) Section 9-210, which deals with requests for an
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| accounting and requests concerning a list of collateral and statement of account;
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(3) Section 9-607(c), which deals with collection and
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| enforcement of collateral;
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(4) Sections 9-608(a) and 9-615(c) to the extent that
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| they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
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(5) Sections 9-608(a) and 9-615(d) to the extent that
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| they require accounting for or payment of surplus proceeds of collateral;
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(6) Section 9-609 to the extent that it imposes upon
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| a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
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(7) Sections 9-610(b), 9-611, 9-613, and 9-614, which
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| deal with disposition of collateral;
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(8) Section 9-615(f), which deals with calculation of
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| a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
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(9) Section 9-616, which deals with explanation of
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| the calculation of a surplus or deficiency;
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(10) Sections 9-620, 9-621, and 9-622, which deal
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| with acceptance of collateral in satisfaction of obligation;
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(11) Section 9-623, which deals with redemption of
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(12) Section 9-624, which deals with permissible
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(13) Sections 9-625 and 9-626, which deal with the
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| secured party's liability for failure to comply with this Article.
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(Source: P.A. 91-893, eff. 7-1-01.)
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