Current through the 2024 Regular Session
Section 28-9-623 - 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 28-9-615(a)(1).(c) A redemption may occur at any time before a secured party:(1) Has collected collateral under section 28-9-607;(2) Has disposed of collateral or entered into a contract for its disposition under section 28-9-610; or(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 28-9-622.[28-9-623, added 2001, ch. 208, sec. 2, p. 794.]