Nebraska Uniform Commercial Code 9-624

UCC 9-624

9-624.

Waiver.

(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 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 section 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 section 9-623 only by an agreement to that effect entered into and authenticated after default.

Annotations

  • COMMENT

  • 1. Source. Former sections 9-504(3), 9-505, and 9-506.

  • 2. 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.