Current through the 2024 Fourth Special Session
Section 70A-9a-623 - Right to redeem collateral(1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.(2) To redeem collateral, a person shall tender:(a) fulfillment of all obligations secured by the collateral; and(b) the reasonable expenses and attorney's fees described in Subsection 70A-9a-615(1)(a).(3) A redemption may occur at any time before a secured party:(a) has collected collateral under Section 70A-9a-607;(b) has disposed of collateral or entered into a contract for its disposition under Section 70A-9a-610; or(c) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 70A-9a-622.Enacted by Chapter 252, 2000 General Session.