§ 46-9-623 — Right to redeem collateral

West Virginia § 46-9-623

• Jurisdiction: West Virginia
• Ch. 46: UNIFORM COMMERCIAL CODE
• Art. 9: SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER

Text

(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 section 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 section 9-607;

(2) Has disposed of collateral or entered into a contract for its disposition under section 9-610; or

(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 9-622.

Legislative History

2000 Reg. Sess., SB469