28-9-623. 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 section 28-9-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under section 28-9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under section 28-9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 28-9-622.
History:
[28-9-623, added 2001, ch. 208, sec. 2, p. 794.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 9 - SECURED TRANSACTIONS
Section 28-9-602 - WAIVER AND VARIANCE OF RIGHTS AND DUTIES.
Section 28-9-603 - AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.
Section 28-9-604 - PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.
Section 28-9-605 - UNKNOWN DEBTOR OR SECONDARY OBLIGOR.
Section 28-9-606 - TIME OF DEFAULT FOR AGRICULTURAL LIEN.
Section 28-9-607 - COLLECTION AND ENFORCEMENT BY SECURED PARTY.
Section 28-9-609 - SECURED PARTY’S RIGHT TO TAKE POSSESSION AFTER DEFAULT.
Section 28-9-610 - DISPOSITION OF COLLATERAL AFTER DEFAULT.
Section 28-9-611 - NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
Section 28-9-612 - TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
Section 28-9-613 - CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL — GENERAL.
Section 28-9-616 - EXPLANATION OF CALCULATION OF SURPLUS OR DEFICIENCY.
Section 28-9-617 - RIGHTS OF TRANSFEREE OF COLLATERAL.
Section 28-9-618 - RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.
Section 28-9-619 - TRANSFER OF RECORD OR LEGAL TITLE.
Section 28-9-621 - NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL.
Section 28-9-622 - EFFECT OF ACCEPTANCE OF COLLATERAL.
Section 28-9-623 - RIGHT TO REDEEM COLLATERAL.
Section 28-9-625 - REMEDIES FOR SECURED PARTY’S FAILURE TO COMPLY WITH CHAPTER.
Section 28-9-626 - ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE.
Section 28-9-627 - DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE.