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