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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 12A. UNIFORM COMMERCIAL CODE

  § 12A-1-9-623. Right to redeem collateral.  

Latest version.

  • RIGHT TO REDEEM COLLATERAL

    (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 attorney’s fees described in paragraph (1) of subsection (a) of Section 1-9-615 of this title.

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

    (1)  has collected collateral under Section 1-9-607 of this title;

    (2)  has disposed of collateral or entered into a contract for its disposition under Section 1-9-610 of this title; or

    (3)  has accepted collateral in full or partial satisfaction of the obligation it secures under Section 1-9-622 of this title.

Added by Laws 2000, c. 371, § 130, eff. July 1, 2001.