409.623 Right to redeem collateral.
(1) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(2) Requirements for redemption. To redeem collateral, a person shall tender:
(a) Fulfillment of all obligations secured by the collateral; and
(b) The reasonable expenses and attorney fees described in s. 409.615 (1) (a).
(3) When redemption may occur. A redemption may occur at any time before a secured party:
(a) Has collected collateral under s. 409.607;
(b) Has disposed of collateral or entered into a contract for its disposition under s. 409.610; or
(c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 409.622.
History: 2001 a. 10.
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