2006 New York Code - Right To Redeem Collateral



 
  Section 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  attorney's  fees described in
             Section 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 9--607;
         (2) has disposed of collateral or entered into a contract for its
             disposition under Section 9--610; or
         (3) has  accepted  collateral  in full or partial satisfaction of
             the obligation it secures under Section 9--622.

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