(4) SUBSECTION (E) DOES NOT REQUIRE THE SECURED PARTY TO
DISPOSE OF THE COLLATERAL OR THE DEBTOR WAIVES THE REQUIREMENT
PURSUANT TO § 9-624,

(B) A PURPORTED OR APPARENT ACCEPTANCE OF COLLATERAL UNDER THIS
SECTION IS INEFFECTIVE UNLESS:

(1) THE SECURED PARTY CONSENTS TO THE ACCEPTANCE IN AN
AUTHENTICATED RECORD OR SENDS A PROPOSAL TO THE DEBTOR; AND

(2) THE CONDITIONS OF SUBSECTION (A) ARE MET.

(C) FOR PURPOSES OF THIS SECTION:

(1) A DEBTOR CONSENTS TO AN ACCEPTANCE OF COLLATERAL IN
PARTIAL SATISFACTION OF THE OBLIGATION IT SECURES ONLY IF THE DEBTOR
AGREES TO THE TERMS OF THE ACCEPTANCE IN A RECORD AUTHENTICATED AFTER
DEFAULT; AND

(2) A DEBTOR CONSENTS TO AN ACCEPTANCE OF COLLATERAL IN FULL
SATISFACTION OF THE OBLIGATION IT SECURES ONLY IF THE DEBTOR AGREES TO
THE TERMS OF THE ACCEPTANCE IN A RECORD AUTHENTICATED AFTER DEFAULT
OR THE SECURED PARTY:

(A) SENDS TO THE DEBTOR AFTER DEFAULT A PROPOSAL THAT IS
UNCONDITIONAL OR SUBJECT ONLY TO A CONDITION THAT COLLATERAL NOT IN
THE POSSESSION OF THE SECURED PARTY BE PRESERVED OR MAINTAINED;

(B) IN THE PROPOSAL, PROPOSES TO ACCEPT COLLATERAL IN FULL
SATISFACTION OF THE OBLIGATION IT SECURES; AND

(C) DOES NOT RECEIVE A NOTIFICATION OF OBJECTION
AUTHENTICATED BY THE DEBTOR WITHIN 20 DAYS AFTER THE PROPOSAL IS SENT.

(D) TO BE EFFECTIVE UNDER SUBSECTION (A)(2), A NOTIFICATION OF
OBJECTION MUST BE RECEIVED BY THE SECURED PARTY:

(1) IN THE CASE OF A PERSON TO WHICH THE PROPOSAL WAS SENT
PURSUANT TO § 9-621, WITHIN 20 DAYS AFTER NOTIFICATION WAS SENT TO THAT
PERSON; AND

(2) IN OTHER CASES:

(A) WITHIN 20 DAYS AFTER THE LAST NOTIFICATION WAS SENT
PURSUANT TO § 9-621; OR

(B) IF A NOTIFICATION WAS NOT SENT, BEFORE THE DEBTOR
CONSENTS TO THE ACCEPTANCE UNDER SUBSECTION (C).

(E) A SECURED PARTY THAT HAS TAKEN POSSESSION OF COLLATERAL SHALL
DISPOSE OF THE COLLATERAL PURSUANT TO § 9-610 WITHIN THE TIME SPECIFIED IN
SUBSECTION (F) IF: