Home Table of Contents

§ 1-9-623. Right to redeem collateral

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 6. Default
12A Okl.St.Ann. § 1-9-623
§ 1-9-623. Right to redeem collateral
Currentness
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 paragraph (1) of subsection (a) of Section 1-9-615 of this title.
(c) A redemption may occur at any time before a secured party:
(1) has collected collateral under Section 1-9-607 of this title;
(2) has disposed of collateral or entered into a contract for its disposition under Section 1-9-610 of this title; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 1-9-622 of this title.

Credits

Laws 2000, c. 371, § 130, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-623, OK ST T. 12A § 1-9-623
Current with legislation of the First Regular Session of the 59th Legislature (2023) and the First Extraordinary Session of the 59th Legislature (2023). Some sections may be more current, see credits for details.
End of Document