(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 7-9A-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 7-9A-607;
(2) has disposed of collateral or entered into a contract for its disposition under Section 7-9A-610; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 7-9A-622.
Structure Code of Alabama
Article 9A - Secured Transactions.
Division 1 - Default and Enforcement of Security Interest.
Section 7-9A-602 - Waiver and Variance of Rights and Duties.
Section 7-9A-603 - Agreement on Standards Concerning Rights and Duties.
Section 7-9A-604 - Procedure if Security Agreement Covers Real Property or Fixtures.
Section 7-9A-605 - Unknown Debtor or Secondary Obligor.
Section 7-9A-606 - Time of Default for Agricultural Lien.
Section 7-9A-607 - Collection and Enforcement by Secured Party.
Section 7-9A-609 - Secured Party's Right to Take Possession After Default.
Section 7-9A-610 - Disposition of Collateral After Default.
Section 7-9A-611 - Notification Before Disposition of Collateral.
Section 7-9A-612 - Timeliness of Notification Before Disposition of Collateral.
Section 7-9A-613 - Contents and Form of Notification Before Disposition of Collateral: General.
Section 7-9A-616 - Explanation of Calculation of Surplus or Deficiency.
Section 7-9A-617 - Rights of Transferee of Collateral.
Section 7-9A-618 - Rights and Duties of Certain Secondary Obligors.
Section 7-9A-619 - Transfer of Record or Legal Title.
Section 7-9A-621 - Notification of Proposal to Accept Collateral.
Section 7-9A-622 - Effect of Acceptance of Collateral.