104.9623 - Redemption of collateral. - Nevada Statutes

104.9623  Redemption of collateral.

      1.  A debtor, any secondary obligor or any other secured party or lienholder may redeem collateral.

      2.  To redeem collateral, a person must tender:

      (a) Fulfillment of all obligations secured by the collateral; and

      (b) The reasonable expenses and attorney’s fees described in paragraph (a) of subsection 1 of NRS 104.9615.

      3.  A redemption may occur at any time before a secured party:

      (a) Has collected collateral under NRS 104.9607;

      (b) Has disposed of collateral or entered into a contract for its disposition under NRS 104.9610; or

      (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under NRS 104.9622.

      (Added to NRS by 1999, 358)