Indiana Code 26-1-9.1-623. Right to redeem collateral
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Sec. 623. (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(1) fulfillment of all obligations secured by the collateral; and
(b) To redeem collateral, a person shall tender:
Terms Used In Indiana Code 26-1-9.1-623
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) the reasonable expenses and attorney‘s fees described in IC 26-1-9.1-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) has collected collateral under IC 26-1-9.1-607;
(2) has disposed of collateral or entered into a contract for its disposition under IC 26-1-9.1-610; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under IC 26-1-9.1-622.
As added by P.L.57-2000, SEC.45.