Right to redeem collateral - UCC 9-623.
A debtor, any secondary obligor, or any
other secured party or lienholder may redeem collateral.
To redeem collateral, a person shall
Fulfillment of all obligations
secured by the collateral; and
The reasonable expenses and attorney's fees described in division (A)(1) of
section 1309.615 of the Revised Code.
A redemption may
occur at any time before a secured party:
Has collected collateral under section
1309.607 of the Revised Code;
Has disposed of collateral or
entered into a contract for its disposition under section
1309.610 of the Revised Code; or
Has accepted collateral in
full or partial satisfaction of the obligation it secures under section
1309.622 of the Revised Code.
Effective Date: 07-01-2001