Document ID: chunk:federal_register_of_legislation:C2024C00719:section:137
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 137
Character Range: 245019–245901

137  Persons entitled to notice may object to proposal
 (1) This section applies if:
 (a) a person is entitled to a notice under section 130 or 135; and
 (b) a secured party gives the person one of the following notices:
 (i) a notice under section 130 that the secured party proposes to purchase collateral;
 (ii) a notice under section 135 that the secured party proposes to retain collateral.
 (2) Before the end of the day specified in accordance with subsection 130(3) or 135(3), the person may give the secured party a notice (the notice of objection) objecting to the purchase or retention.
Note: The secured party may request the person to provide proof of the person's interest under section 138.
 (3) The secured party must sell or lease the collateral in accordance with section 128 if the secured party is given a notice of objection in accordance with subsection (2).