N.J. Stat. § 12A:9-603

Current through L. 2024, c. 62.
Section 12A:9-603 - Agreement on standards concerning rights and duties
(a) Agreed standards. 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 12A:9-602 if the standards are not manifestly unreasonable.
(b) Agreed standards inapplicable to breach of peace. Subsection (a) does not apply to the duty under 12A:9-609 to refrain from breaching the peace.

N.J.S. § 12A:9-603

Enacted c. 117, s. 1, eff. 6/26/2001, op. 7/1/2001; amended c. 386, s. 93, eff. 1/8/2002.
P.L. 2001, c. 386, s. 127 provides: "This act, P.L. 2001, c. 386, amends and supplements P.L. 2001, c. 117 and shall take effect immediately and shall be applied retroactively to July 1, 2001."