Section 62
Application of this Part
ActIn forceProvision 58 of 87
Section 62
(1)
This Part applies to all security interests, except those created or provided for by —
(a)
an outright transfer of an account receivable or chattel paper;
(b)
an operating lease that does not secure payment or performance of an obligation; or
(c)
a commercial consignment that does not secure payment or performance of an obligation.
Secured Transactions 38
(2)
This Part does not apply to remedies and measures provided in the Insolvency Act (Chapter 247).
(3)
The parties to a security agreement may contract out of sections 63, 64, 79, 83 and 84.