Can you summarize MNST 336.9-623?

Short Summary

(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 attorneys fees described in section 336.9-615 (a)(1). (c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under section 336.9-607 ; (2) has disposed of collateral or entered into a contract for its disposition under section 336.9-610 ; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 336.9-622 . History: 2000 c 399 art 1 s 124

Jurisdiction

Minnesota

Source

• Banking