TITLE XXXIV-A
UNIFORM COMMERCIAL CODE

CHAPTER 382-A
UNIFORM COMMERCIAL CODE

ARTICLE 9
SECURED TRANSACTIONS

Part 6
Default

Default and Enforcement of Security Interest

Section 382-A:9-623

    382-A:9-623 Right to Redeem Collateral. –
(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.

Source. 2001, 102:25, eff. July 1, 2001.