Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/7-9A-623.htm |
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Depth: | 0 singles |
Size: | 1,165 bytes |
Modified: | 2003-01-22 13:23:42 |
Categories: | -None- |
Title: | 7-9A-623 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 7-9A-623 Right to redeem collateral. (a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) Requirements for redemption. To redeem collateral, a person shall tender: (1) fulfillment of all obligations secured by the collateral; and (2) the reasonable expenses and attorney's fees described in Section 7-9A-615(a)(1). (c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under Section 7-9A-607; (2) has disposed of collateral or entered into a contract for its disposition under Section 7-9A-610; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 7-9A-622. (Act 2001-481, p. 647, ยง1.) |