Check the help on variable scope, specifically LOCAL. It doesn't matter that the variable is holding an object reference, the rules are still the same.
In this case PRIVATE is the scope you want.
>I have a PRG that the object goes out of scope when a procedure is called. Do I need to pass it in somehow?
>
>
>LOCAL myObject
>
>MyObject = CREATEOBJECT("MyClass")
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>DO MyProcedure
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>RETURN
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>PROCEDURE MyProcedure
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> * MyObject is not available
>