2015 ORS 79.0602¹
UCC 9-602. Waiver and variance of rights and duties

Except as otherwise provided in ORS 79.0624 (UCC 9-624. Waiver), 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) ORS 79.0207 (UCC 9-207. Rights and duties of secured party having possession or control of collateral) (2)(d)(C), which deals with use and operation of the collateral by the secured party;

(2) ORS 79.0210 (UCC 9-210. Request for accounting), which deals with requests for an accounting and requests concerning a list of collateral and statement of account;

(3) ORS 79.0607 (UCC 9-607. Collection and enforcement by secured party) (3), which deals with collection and enforcement of collateral;

(4) ORS 79.0608 (UCC 9-608. Application of proceeds of collection or enforcement) (1) and 79.0615 (UCC 9-615. Application of proceeds of disposition) (3) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement or disposition;

(5) ORS 79.0608 (UCC 9-608. Application of proceeds of collection or enforcement) (1) and 79.0615 (UCC 9-615. Application of proceeds of disposition) (4) to the extent that they require accounting for or payment of surplus proceeds of collateral;

(6) ORS 79.0609 (UCC 9-609. Secured partys right to take possession after default) 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) ORS 79.0610 (UCC 9-610. Disposition of collateral after default) (2), 79.0611 (UCC 9-611. Notification before disposition of collateral), 79.0613 (UCC 9-613. Contents and form of notification before disposition of collateral: general) and 79.0614 (UCC 9-614. Contents and form of notification before disposition of collateral: consumer-goods transaction), which deal with disposition of collateral;

(8) ORS 79.0615 (UCC 9-615. Application of proceeds of disposition) (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) ORS 79.0616 (UCC 9-616. Explanation of calculation of surplus or deficiency), which deals with explanation of the calculation of a surplus or deficiency;

(10) ORS 79.0620 (UCC 9-620. Acceptance of collateral in full or partial satisfaction of obligation), 79.0621 (UCC 9-621. Notification of proposal to accept collateral) and 79.0622 (UCC 9-622. Effect of acceptance of collateral), which deal with acceptance of collateral in satisfaction of obligation;

(11) ORS 79.0623 (UCC 9-623. Right to redeem collateral), which deals with redemption of collateral;

(12) ORS 79.0624 (UCC 9-624. Waiver), which deals with permissible waivers; and

(13) ORS 79.0625 (UCC 9-625. Remedies for secured partys failure to comply with article) and 79.0626 (UCC 9-626. Action in which deficiency or surplus is in issue), which deal with the secured partys liability for failure to comply with this chapter. [2001 c.445 §100]

Chapter 79

Notes of Decisions

Where creditor with prior perfected secured interest opts not to exercise elective remedies against debtor, creditor maintains security interest and sub­se­quent garnishor takes subject to creditor so that may trace and recapture collateral funds from garnishor. Davis v. F.W. Financial Services, Inc., 260 Or App 191, 317 P3d 916 (2013), Sup Ct review denied


1 Legislative Counsel Committee, CHAPTER 79—Secured Transactions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors079.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 79, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano079.­html (2015) (last ac­cessed Jul. 16, 2016).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.