Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 9 - Secured Transactions, 55-9-101 through 55-9-710. > Section 55-9-603 - Agreement on standards concerning rights and duties.

Section 55-9-603 - Agreement on standards concerning rights and duties.

55-9-603. 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 55-9-602 NMSA 1978 if the standards are not manifestly unreasonable.   

(b)     Subsection (a) of this section does not apply to the duty under Section 55-9-609 NMSA 1978 to refrain from breaching the peace.