Sec. 45.29.623. Right to redeem collateral.
105 words·~1 min read·
/ak/title-45/chapter-29/45-29-623·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.29.623. Right to redeem collateral.
(a)A debtor, a secondary obligor, or other secured party or lienholder may redeem collateral.
(b)To redeem collateral, a person shall tender
(1)fulfillment of all obligations secured by the collateral; and
(2)the reasonable expenses and attorney fees described in AS 45.29.615 (a)(1).
(c)A redemption may occur at any time before a secured party has
(1)collected collateral under AS 45.29.607 ;
(2)disposed of collateral or entered into a contract for its disposition under AS 45.29.610 ; or
(3)accepted collateral in full or partial satisfaction of the obligation it secures under AS 45.29.622 .