§ 9623. — 9623. (Added by Stats. 1999, Ch. 991, Sec. 35.)

California § 9623.

• Jurisdiction: California
• Code COM: Commercial Code - COM
• Div. 9.: DIVISION 9. SECURED TRANSACTIONS
• Ch. 6.: CHAPTER 6. Default

Text

(a)
A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(b)
To redeem collateral, a person shall tender both of the following:
(1)
Fulfillment of all obligations secured by the collateral.
(2)
The reasonable expenses and attorney’s fees described in paragraph (1) of subdivision (a)
of Section 9615.
(c)
A redemption may occur at any time before a secured party has done any of the following:
(1)
Collected collateral under Section 9607.
(2)
Disposed of collateral or entered into a contract for its disposition under Section 9610.
(3)
Accepted collateral in full or partial satisfaction of the obligation it secures under Section 9622.

Legislative History

Added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.