Current through the 2024 legislative session
Section 34.1-9-623 - 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:(i) Fulfillment of all obligations secured by the collateral; and(ii) The reasonable expenses and attorney's fees described in section 34.1-9-615(a)(i).(c) A redemption may occur at any time before a secured party:(i) Has collected collateral under section 34.1-9-607;(ii) Has disposed of collateral or entered into a contract for its disposition under section 34.1-9-610; or(iii) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 34.1-9-622.