Me. Stat. tit. 11 § 9-1623

Current through 131st (2023-2024) Legislature Chapter 684
Section 9-1623 - Right to redeem collateral
(1). A debtor, any secondary obligor or any other secured party or lienholder may redeem collateral.

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

(2). To redeem collateral, a person shall tender:
(a). Fulfillment of all obligations secured by the collateral; and [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]
(b). The reasonable expenses and attorney's fees described in section 9-1615, subsection (1), paragraph (a). [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

(3). A redemption may occur at any time before a secured party:
(a). Has collected collateral under section 9-1607; [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]
(b). Has disposed of collateral or entered into a contract for its disposition under section 9-1610; or [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]
(c). Has accepted collateral in full or partial satisfaction of the obligation it secures under section 9-1622. [1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

[1999, c. 699, Pt. A, §2(NEW); 1999, c. 699, Pt. A, §4(AFF).]

11 M.R.S. § 9-1623

1999, c. 699, §A2 (NEW) . 1999, c. 699, §A4 (AFF) .