§490:9-623 - Right to redeem collateral.
§490:9-623 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 490:9-615(a)(1).
(c) A redemption may occur at any time before
a secured party:
(1) Has collected collateral under section 490:9-607;
(2) Has disposed of collateral or entered into a
contract for its disposition under section 490:9-610; or
(3) Has accepted collateral in full or partial
satisfaction of the obligation it secures under section 490:9-622. [L 2000, c
241, pt of §1]