North Dakota § 41-09-118 (9-623) Right to redeem collateral

North Dakota Statutes

§ 41-09-118 — (9-623) Right to redeem collateral

North Dakota § 41-09-118

Title 41Uniform Commercial Code

Ch. 41-09Secured Transactions

This text of North Dakota § 41-09-118 ((9-623) Right to redeem collateral) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-09-118 (2026).

Text

1.A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

2.To redeem collateral, a person shall tender:

a.Fulfillment of all obligations secured by the collateral; and

b.The reasonable expenses and attorney's fees described in subdivision a of subsection 1 of section 41-09-111.

3.A redemption may occur at any time before a secured party:

a.Has collected collateral under section 41-09-104;

b.Has disposed of collateral or entered into a contract for its disposition under section 41-09-107; or

c.Has accepted collateral in full or partial satisfaction of the obligation it secures under section 41-09-117.

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1. A debtor, any secondary obligor, or any other secured party or lienholder may redeem
collateral.
2. To redeem collateral, a person shall tender:
a. Fulfillment of all obligations secured by the collateral; and
b. The reasonable expenses and attorney's fees described in subdivision a of
subsection 1 of section 41-09-111.
3. A redemption may occur at any time before a secured party:
a. Has collected collateral under section 41-09-104;
b. Has disposed of collateral or entered into a contract for its disposition under
section 41-09-107; or
c. Has accepted collateral in full or partial satisfaction of the obligation it secures
under section 41-09-117.