§ 9-623
99 words·~1 min read·
/md/commercial-law/9-623A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–623.
(a)A debtor, any secondary obligor, or any 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’s fees described in § 9-615(a)(1).
(c)A redemption may occur at any time before a secured party:
(1)Has collected collateral under § 9-607;
(2)Has disposed of collateral or entered into a contract for its disposition under § 9-610; or
(3)Has accepted collateral in full or partial satisfaction of the obligation it secures under § 9-622.