LegalFix
Sign In

Section 42a-9-623 - Right to redeem collateral.

CT Gen Stat § 42a-9-623 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(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.

Previous Section
Section 42a-9-622 - Effect of acceptance of collateral.
Next Section
Section 42a-9-624 - Waiver.