§ 36-9-623. Right to redeem collateral.
102 words·~1 min read·
/sc/title-36-commercial-code/chapter-9/commercial-code-secured-transactions/36-9-623·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 36-9-623. Right to redeem collateral.
(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 Section 36-9-615(a)(1).
(c)A redemption may occur at any time before a secured party:
(1)has collected collateral under Section 36-9-607;
(2)has disposed of collateral or entered into a contract for its disposition under Section 36-9-610; or
(3)has accepted collateral in full or partial satisfaction of the obligation it secures under