State Codes and Statutes

Statutes > Connecticut > Title42a > Art009 > Sec42a-9-623

      Sec. 42a-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 subdivision (1) of subsection (a) of section 42a-9-615.

      (c) A redemption may occur at any time before a secured party:

      (1) Has collected collateral under section 42a-9-607;

      (2) Has disposed of collateral or entered into a contract for its disposition under section 42a-9-610; or

      (3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 42a-9-622.

      (P.A. 01-132, S. 120.)

      Annotations to former section 42a-9-506:

      Cited. 216 C. 458.

      Cited. 24 CA 455.