Section 9-623 - Right to redeem collateral. - Maryland Statutes

§ 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. 
 

[1999, ch. 282, § 2.]