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2018 Minnesota Statutes
Chapters 324 - 341 — TRADE REGULATIONS, CONSUMER PROTECTION
Chapter 336 — UNIFORM COMMERCIAL CODE
Section 336.9-623 — RIGHT TO REDEEM COLLATERAL.
Universal Citation: MN Stat § 336.9-623 (2018)
336.9-623 RIGHT TO REDEEM COLLATERAL.
(a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(b) Requirements for redemption. To redeem collateral, a person shall tender:
(1) fulfillment of all obligations secured by the collateral; and
(2) the reasonable expenses and attorneys fees described in section 336.9-615(a)(1).
(c) When redemption may occur. A redemption may occur at any time before a secured party:
(1) has collected collateral under section 336.9-607;
(2) has disposed of collateral or entered into a contract for its disposition under section 336.9-610; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 336.9-622.
History: 2000 c 399 art 1 s 124
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