Right to redeem collateral

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Uniform Commercial Code
  5. Secured Transactions
  6. Default
  7. Default and Enforcement of Security Interest
  8. Right to redeem collateral

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  1. (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

  2. (b) To redeem collateral, a person shall tender:

    1. (1) fulfillment of all obligations secured by the collateral; and

    2. (2) the reasonable expenses and attorney's fees described in § 4-9-615(a)(1).

  3. (c) A redemption may occur at any time before a secured party:

    1. (1) has collected collateral under § 4-9-607;

    2. (2) has disposed of collateral or entered into a contract for its disposition under § 4-9-610; or

    3. (3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 4-9-622.


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