84-9-623. 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 fees described in K.S.A. 2020 Supp. 84-9-615(a)(1), and amendments thereto.
(c) When redemption may occur. A redemption may occur at any time before a secured party:
(1) Has collected collateral under K.S.A. 2020 Supp. 84-9-607, and amendments thereto;
(2) has disposed of collateral or entered into a contract for its disposition under K.S.A. 2020 Supp. 84-9-610, and amendments thereto; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under K.S.A. 2020 Supp. 84-9-622, and amendments thereto.
History: L. 2000, ch. 142, § 121; July 1, 2001.