{"data":{"id":"us-nm/55-9-624","jurisdiction":"us-nm","citation":"55-9-624","heading":"Waiver.","body":"(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 55-9-611 NMSA 1978 only by an agreement to that effect entered into and signed after default.\n(b) A debtor may waive the right to require disposition of collateral under Subsection (e) of Section 55-9-620 NMSA 1978 only by an agreement to that effect entered into and signed after default.\n(c) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under Section 55-9-623 NMSA 1978 only by an agreement to that effect entered into and signed after default.\nOFFICIAL COMMENTS\nUCC Official Comments © by ALI \u0026 the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.\n1. Source. Former Sections 9-504(3), 9-505, 9-506 [55-9-504(3), 55-9-505, 55-9-506 NMSA 1978, respectively].\n2. Waiver. This section is a limited exception to Section 9-602 [55-9-602 NMSA 1978], 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 [55-9-620, 55-9-621, 55-9-622 NMSA 1978, respectively].\n3. \"Signed\" Replaces \"Authenticated.\" Consistent with the revised definition of \"sign\" in Section 1-201, the cognate term \"signed\" replaces the references to \"authenticated\" in the pre-2022 text of this section.","path":["Chapter 55 - Uniform Commercial Code","ARTICLE 9 Secured Transactions"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.do","current_through":"2024-04-27","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"56b7451b269cf7a6ff3ecebc30ff3efbfbfe834c90795664d4873f4e4185e343","source_id":"us-nm","stale":false,"prev":"us-nm/55-9-623","next":"us-nm/55-9-625"},"notice":"GroundRules: Original legal text. Not legal advice."}