Current with changes from the 2024 legislative session through ch. 845
Section 8.9A-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 § 8.9A-615 A(a) (1).(c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under § 8.9-607A;(2) has disposed of collateral or entered into a contract for its disposition under § 8.9-610A; or(3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 8.9-622A.1964, c. 219, § 8.9-506; 2000, c. 1007.Amended by Acts 2000, § c.1007.Amended by Acts 1964, § c. 219, § 8.9-506.