(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 attorney's fees described in subdivision (1) of subsection (a) of section 42a-9-615.
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under section 42a-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under section 42a-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 42a-9-622.
(P.A. 01-132, S. 120.)
Annotations to former section 42a-9-506:
Cited. 216 C. 458.
Cited. 24 CA 455.