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4-9-603. Agreement on standards concerning rights and duties.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-603. Agreement on standards concerning rights and duties.
(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in § 4-9-602 if the standards are not manifestly unreasonable.
(b) Subsection (a) does not apply to the duty under § 4-9-609 to refrain from breaching the peace.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-603
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-9-603
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 59363c6984258ee6c293de87c6254c518f8dc0cd8909ab6be003b5623b128ac8
Source location: content.xml paragraph 11022
Stored source content
4-9-603. Agreement on standards concerning rights and duties.
(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in § 4-9-602 if the standards are not manifestly unreasonable.
(b) Subsection (a) does not apply to the duty under § 4-9-609 to refrain from breaching the peace.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-602. Waiver and variance of rights and duties.
Except as otherwise provided in § 4-9-624, 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 4-9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party;
(2) Section 4-9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Section 4-9-607(c), which deals with collection and enforcement of collateral;
(4) Sections 4-9-608(a) and 4-9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Sections 4-9-608(a) and 4-9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Section 4-9-609 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) Sections 4-9-610(b), 4-9-611, 4-9-613, and 4-9-614, which deal with disposition of collateral;
(8) Section 4-9-615(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) Section 4-9-616, which deals with explanation of the calculation of a surplus or deficiency;
(10) Sections 4-9-620, 4-9-621, and 4-9-622, which deal with acceptance of collateral in satisfaction of obligation;
(11) Section 4-9-623, which deals with redemption of collateral;
(12) Section 4-9-624, which deals with permissible waivers; and
(13) Sections 4-9-625 and 4-9-626, which deal with the sec
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-602
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-9-602. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-9-609. Secured party's right to take possession after default.
(a) After default, a secured party:
(1) may take possession of the collateral; and
(2) without removal, may render equipment unusable and dispose of collateral on a debtor's premises under § 4-9-610.
(b) A secured party may proceed under subsection (a):
(1) pursuant to judicial process; or
(2) without judicial process, if it proceeds without breach of the peace.
(c) If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-9-609
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-9-609. This identifies an authority to review, not proof of applicability.