State Codes and Statutes

Statutes > South-dakota > Title-57a > Chapter-09 > Statute-57a-9-623

57A-9-623. Persons who may redeem collateral--Procedure. (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 § 57A-9-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under § 57A-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under § 57A-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under § 57A-9-622.

Source: SL 2000, ch 231.