§ 1309.623 — Right to redeem collateral - UCC 9-623

Ohio § 1309.623

• Jurisdiction: Ohio
• Title 13: Commercial Transactions
• Ch. 1309: Secured Transactions

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:

(1) Fulfillment of all obligations secured by the collateral; and

(2) The reasonable expenses and attorney's fees described in division (A)(1) of section1309.615of the Revised Code.

(C) A redemption may occur at any time before a secured party:

(1) Has collected collateral under section1309.607of the Revised Code;

(2) Has disposed of collateral or entered into a contract for its disposition under section1309.610of the Revised Code; or

(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section1309.622of the Revised Code.

Legislative History

Effective: July 1, 2001 | Latest Legislation: Senate Bill 74 - 124th General Assembly