Right to redeem collateral

409.623 Right to redeem collateral. (1) PERSONS THAT MAY REDEEM. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (2) REQUIREMENTS FOR REDEMPTION. To redeem collateral, a person shall tender: (a) Fulfillment of all obligations secured by the collateral; and (b) The reasonable expenses and attorney fees described in s. 409.615 (1) (a). (3) WHEN REDEMPTION MAY OCCUR. A redemption may occur at any time before a secured party: (a) Has collected collateral under s. 409.607; (b) Has disposed of collateral or entered into a contract for its disposition under s. 409.610; or (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 409.622. History: 2001 a. 10.