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2018 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 9 - Secured Transactions
Part 6 - Default
1. Default and Enforcement of Security Interest
§ 47-9-623. Right to redeem collateral.
Universal Citation:
TN Code § 47-9-623 (2018)
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on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
(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 § 47-9-615(a)(1).
(c) When redemption may occur. A redemption may occur at any time before a secured party:
(1) has collected collateral under § 47-9-607;
(2) has disposed of collateral or entered into a contract for its disposition under § 47-9-610; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 47-9-622.
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