(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 paragraph (1) of subsection (a) of Code Section 11-9-615.
(c) When redemption may occur. A redemption may occur at any time before a secured party:
(1) Has collected collateral under Code Section 11-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under Code Section 11-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under Code Section 11-9-622.
Section: Previous 11-9-611 11-9-612 11-9-613 11-9-614 11-9-615 11-9-616 11-9-617 11-9-618 11-9-619 11-9-620 11-9-621 11-9-622 11-9-623 11-9-624 NextLast modified: October 14, 2016