§ 9-623. 9-623
116 words·~1 min read·
/us/ucc/a9/s9-623A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 .