R.I. Gen. Laws § 6A-9-623

Current through 2024 Public Law 44
Section 6A-9-623 - Right to redeem collateral
(a)Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(b)Requirements for redemption. To redeem collateral, a person shall tender:
(1) Fulfillment of all obligations secured by the collateral; and
(2) The reasonable expenses and attorney's fees described in § 6A-9-615(a)(1).
(c)When redemption may occur. A redemption may occur at any time before a secured party:
(1) Has collected collateral under § 6A-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under § 6A-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under § 6A-9-622.

R.I. Gen. Laws § 6A-9-623

P.L. 2000, ch. 182, § 6; P.L. 2000, ch. 420, § 6.