1. (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

2. (b) To redeem collateral, a person shall tender:

   1. (1) fulfillment of all obligations secured by the collateral; and
   2. (2) the reasonable expenses and attorney's fees described in Section 36-9-615(a)(1).

3. (c) A redemption may occur at any time before a secured party:

   1. (1) has collected collateral under Section 36-9-607;
   2. (2) has disposed of collateral or entered into a contract for its disposition under Section 36-9-610; or
   3. (3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 36-9-622.

HISTORY: 2001 Act No. 67, Section 12. "Collateral" Section 36-9-102(a)(12) "Debtor" Section 36-9-102(a)(28) "Person" Section 36-1-201(30) "Secondary obligor" Section 36-9-102(a)(71) "Secured party" Section 36-9-102(a)(72)