12A: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 12A: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 12A:9-607;

   (2)   has disposed of collateral or entered into a contract for its disposition under 12A:9-610; or

   (3)   has accepted collateral in full or partial satisfaction of the obligation it secures under 12A:9-622.

   L.2001, c.117, s.1; amended 2001, c.386, s.112.