Maryland Commercial Law Section 9-623

Article - Commercial Law

§ 9-623.

      (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 § 9-615(a)(1).

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

            (1)      Has collected collateral under § 9-607;

            (2)      Has disposed of collateral or entered into a contract for its disposition under § 9-610; or

            (3)      Has accepted collateral in full or partial satisfaction of the obligation it secures under § 9-622.



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