Skip to main content
Loading…
This section is included in your selections.

Except as otherwise provided in the provisions of this Osage Nation Secured Transactions Act dealing with waivers, 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 sections of this Osage Nation Secured Transactions Act dealing with:

A. Rights and duties when collateral is in a secured party’s possession (27A ONC § 9-204);

B. Requests for an accounting or requests regarding a list of collateral or statement of an account (27A ONC § 9-207);

C. Commercially reasonable collection and enforcement (27A ONC § 9-607(B));

D. Application of proceeds, deficiency and surplus (27A ONC §§ 9-608(A) and 9-615(C)), to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;

E. Application of proceeds and the like (27A ONC §§ 9-608 and 9-615(D)), to the extent that they require accounting for or payment of surplus proceeds of collateral;

F. A secured party’s right to take possession after default and limitations thereon (27A ONC § 9-609), to the extent that it imposes upon the secured party taking possession of collateral without judicial process the duty to do so without breach of the peace and with consent of the debtor;

G. Commercially reasonable disposition (27A ONC § 9-610(B)), notification before disposition of the collateral (Section 9-611 of this Title), and the contents and form of a notification before disposition of the collateral (27A ONC § 9-613);

H. Calculation of a deficiency or surplus when the fairness of the amount of proceeds is placed in issue (27A ONC § 9-615(E));

I. Explanation of the calculation of a surplus or deficiency (27A ONC § 9-616);

J. Acceptance of collateral in satisfaction of obligation (27A ONC § 9-620);

K. Right to redeem collateral (27A ONC § 9-623);

L. Waivers (27A ONC § 9-624); and

M. The secured party’s liability for failure to comply with this Osage Nation Secured Transactions Act (27A ONC §§ 9-625 and 9-626). ONCA 07-22, eff. June 18, 2007.