Colo. Rev. Stat. § 4-9-603

Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session

Section 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 section 4-9-602 if the standards are not unreasonable.

(b) Subsection (a) of this section does not empower the parties to set standards affecting the duty under section 4-9-609 to refrain from breaching the peace.

C.R.S. § 4-9-603

L. 2001: Entire article R&RE, p. 1399, § 1, effective July 1.

(1) This section is similar to former § 4-9-501 (3) as it existed prior to 2001.

(2) Colorado legislative change: Colorado did not adopt the word "manifestly" before the word "unreasonable" in subsection (a) and substituted the phrase "empower the parties to set standards affecting" for the phrase "apply to" in subsection (b).