Current through 2024 First Special Session
Section 46-9-623 - 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 section 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 section 9-607;(2) Has disposed of collateral or entered into a contract for its disposition under section 9-610; or(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 9-622.