Sec. 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 attorneys' fees described in Section 9.615(a)(1).
(c) 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.
Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.
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