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

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

   1. (a) fulfillment of all obligations secured by the collateral; and
   2. (b) the reasonable expenses and attorney's fees described in Subsection 70A-9a-615(1)(a).

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

   1. (a) has collected collateral under Section 70A-9a-607;
   2. (b) has disposed of collateral or entered into a contract for its disposition under Section 70A-9a-610; or
   3. (c) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 70A-9a-622.

Enacted by Chapter 252, 2000 General Session