Right to redeem collateral - UCC 9-623.
any secondary obligor, or any other secured party or lienholder may redeem
collateral, a person shall tender:
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