Utah Statutes
§ 70A-9a-623 — Right to redeem collateral.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-9a Uniform Commercial Code - Secured Transactions·Part 70A-9a-6 Default
(1)A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(2)To redeem collateral, a person shall tender:
(2)(a) fulfillment of all obligations secured by the collateral; and
(2)(b) the reasonable expenses and attorney's fees described in Subsection 70A-9a-615(1)(a).
(3)A redemption may occur at any time before a secured party:
(3)(a) has collected collateral under Section 70A-9a-607;
(3)(b) has disposed of collateral or entered into a contract for its disposition under Section 70A-9a-610; or
(3)(c) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 70A-9a-622.
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Legislative History
Enacted by Chapter 252, 2000 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.