New York Uniform Commercial Code Law Section 9-623 - Right to Redeem Collateral

Section 9--623. Right to Redeem Collateral.
(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
         Section 9--615(a)(1).
(c) When redemption may occur. A redemption  may  occur  at  any  time
  before a secured party:
     (1) has collected collateral under Section 9--607;
     (2) has disposed of collateral or entered into a contract for its
         disposition under Section 9--610; or
     (3) has  accepted  collateral  in full or partial satisfaction of
         the obligation it secures under Section 9--622.

Last modified: February 3, 2019