(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 fees described in section 9615(a)(1) (relating to application of proceeds).
(c) When redemption may occur.--A redemption may occur at any time before a secured party:
(1) has collected collateral under section 9607 (relating to collection and enforcement by secured party);
(2) has disposed of collateral or entered into a contract for its disposition under section 9610 (relating to disposition of collateral after default); or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 9622 (relating to effect of acceptance of collateral).
Cross References. Section 9623 is referred to in sections 9602, 9614, 9624 of this title; section 6259 of Title 12 (Commerce and Trade).
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Section 9602 - Waiver and variance of rights and duties
Section 9603 - Agreement on standards concerning rights and duties
Section 9604 - Procedure if security agreement covers real property or fixtures
Section 9605 - Unknown debtor or secondary obligor
Section 9606 - Time of default for agricultural lien
Section 9607 - Collection and enforcement by secured party
Section 9609 - Secured party's right to take possession after default
Section 9610 - Disposition of collateral after default
Section 9611 - Notification before disposition of collateral
Section 9612 - Timeliness of notification before disposition of collateral
Section 9613 - Contents and form of notification before disposition of collateral: general
Section 9615 - Application of proceeds of disposition; liability for deficiency and right to surplus
Section 9616 - Explanation of calculation of surplus or deficiency
Section 9617 - Rights of transferee of collateral
Section 9618 - Rights and duties of certain secondary obligors
Section 9619 - Transfer of record or legal title
Section 9621 - Notification of proposal to accept collateral
Section 9622 - Effect of acceptance of collateral
Section 9623 - Right to redeem collateral
Section 9625 - Remedies for secured party's failure to comply with division
Section 9626 - Action in which deficiency or surplus is in issue
Section 9627 - Determination of whether conduct was commercially reasonable