Texas Business & Commerce Code

§ 9.623 — RIGHT TO REDEEM COLLATERAL

BC § 9.623Title 1. UNIFORM COMMERCIAL CODE · Ch. 9. SECURED TRANSACTIONS · Art. F. DEFAULT

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

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

(1)fulfillment of all obligations secured by the collateral; and

(2)the reasonable expenses and attorneys' fees described in Section 9.615(a)(1).

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

(1)has collected collateral under Section 9.607;

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Legislative history

Added by Acts 1999, 76th Leg., ch. 414, Sec. 1.01, eff. July 1, 2001.