(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 § 28:9-602 if the standards are not manifestly unreasonable.
(b) Subsection (a) does not apply to the duty under § 28:9-609 to refrain from breaching the peace.
(Oct. 26, 2000, D.C. Law 13-201, § 101, 47 DCR 7576.)
1. Source. Former Section 9-501(3).
2. Limitation on Ability to Set Standards. Subsection (a), like former Section 9-501(3), permits the parties to set standards for compliance with the rights and duties under this Part if the standards are not “manifestly unreasonable.” Under subsection (b), the parties are not permitted to set standards measuring fulfillment of the secured party’s duty to take collateral without breaching the peace.
Structure District of Columbia Code
Title 28 - Commercial Instruments and Transactions. [Enacted title]
Subtitle I - Uniform Commercial Code
Article 9 - Secured Transactions
Subpart 1 - Default and Enforcement of Security Interest
§ 28:9–602. Waiver and variance of rights and duties
§ 28:9–603. Agreement on standards concerning rights and duties
§ 28:9–604. Procedure if security agreement covers real property or fixtures
§ 28:9–605. Unknown debtor or secondary obligor
§ 28:9–606. Time of default for agricultural lien
§ 28:9–607. Collection and enforcement by secured party
§ 28:9–609. Secured party’s right to take possession after default
§ 28:9–610. Disposition of collateral after default
§ 28:9–611. Notification before disposition of collateral
§ 28:9–612. Timeliness of notification before disposition of collateral
§ 28:9–613. Contents and form of notification before disposition of collateral: general
§ 28:9–615. Application of proceeds of disposition; liability for deficiency and right to surplus
§ 28:9–616. Explanation of calculation of surplus or deficiency
§ 28:9–617. Rights of transferee of collateral
§ 28:9–618. Rights and duties of certain secondary obligors
§ 28:9–619. Transfer of record or legal title
§ 28:9–621. Notification of proposal to accept collateral
§ 28:9–622. Effect of acceptance of collateral