State Codes and Statutes
Statutes > Rhode-island > Title-6a > Chapter-6a-9 > 6a-9-623SECTION 6A-9-623
§ 6A-9-623 Right to redeem collateral.– (a) Persons that may redeem. A debtor, any secondary obligor, or anyother 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§ 6A-9-615(a)(1).
(c) When redemption may occur. A redemption may occurat any time before a secured party:
(1) Has collected collateral under § 6A-9-607;
(2) Has disposed of collateral or entered into a contract forits disposition under § 6A-9-610; or
(3) Has accepted collateral in full or partial satisfactionof the obligation it secures under § 6A-9-622.
