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2018 Idaho Statutes
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Part 6 - DEFAULT
Section 28-9-623 - RIGHT TO REDEEM COLLATERAL.
Universal Citation: ID Code § 28-9-623 (2018)
28-9-623. 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 section 28-9-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under section 28-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under section 28-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 28-9-622.
History:
[28-9-623, added 2001, ch. 208, sec. 2, p. 794.]
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