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§ 9-623. Right to redeem collateral

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 9. Secured Transactions (Refs & Annos)
Subtitle 6. Default (Refs & Annos)
MD Code, Commercial Law, § 9-623
§ 9-623. Right to redeem collateral
(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 § 9-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under § 9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under § 9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under § 9-622.

Credits

Added by Acts 1999, c. 282, § 2, eff. July 1, 2001.
MD Code, Commercial Law, § 9-623, MD COML § 9-623
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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