Current through 2024 Legislative Session
Section 41-09-118 - (9-623) Right to redeem collateral1. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.2. To redeem collateral, a person shall tender:a. Fulfillment of all obligations secured by the collateral; andb. The reasonable expenses and attorney's fees described in subdivision a of subsection 1 of section 41-09-111.3. A redemption may occur at any time before a secured party:a. Has collected collateral under section 41-09-104;b. Has disposed of collateral or entered into a contract for its disposition under section 41-09-107; orc. Has accepted collateral in full or partial satisfaction of the obligation it secures under section 41-09-117.