30-9A-623. Right to redeem collateral. (1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(2) To redeem collateral, a person shall tender:
(a) fulfillment of all obligations secured by the collateral; and
(b) the reasonable expenses and attorneys fees described in 30-9A-615(1)(a).
(3) A redemption may occur at any time before a secured party:
(a) has collected collateral under 30-9A-607;
(b) has disposed of collateral or entered into a contract for its disposition under 30-9A-610; or
(c) has accepted collateral in full or partial satisfaction of the obligation it secures under 30-9A-622.
History: En. Sec. 120, Ch. 305, L. 1999; Sec. 30-9-623, MCA 1999; redes. 30-9A-623 by Code Commissioner, 2001.
Structure Montana Code Annotated
Chapter 9A. Uniform Commercial Code Secured Transactions
30-9A-602. Waiver and variance of rights and duties
30-9A-603. Agreement on standards concerning rights and duties
30-9A-604. Procedure if security agreement covers real property or fixtures
30-9A-605. Unknown debtor or secondary obligor
30-9A-606. Time of default for agricultural lien
30-9A-607. Collection and enforcement by secured party
30-9A-609. Secured party's right to take possession after default
30-9A-610. Disposition of collateral after default
30-9A-611. Notification before disposition of collateral
30-9A-612. Timeliness of notification before disposition of collateral
30-9A-613. Contents and form of notification before disposition of collateral -- general
30-9A-615. Application of proceeds of disposition -- liability for deficiency and right to surplus
30-9A-616. Explanation of calculation of surplus or deficiency
30-9A-617. Rights of transferee of collateral
30-9A-618. Rights and duties of certain secondary obligors
30-9A-619. Transfer of record or legal title
30-9A-621. Notification of proposal to accept collateral
30-9A-622. Effect of acceptance of collateral
30-9A-623. Right to redeem collateral
30-9A-625. Remedies for secured party's failure to comply with chapter
30-9A-626. Action in which deficiency or surplus is in issue
30-9A-627. Determination of whether conduct was commercially reasonable