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Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 9A : Uniform Commercial Code

Article 009 : Secured Transactions

(Cite as: 9A V.S.A. § 9-623)
  • § 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 subdivision 9- 615(a)(1) of this title.

    (c) A redemption may occur at any time before a secured party:

    (1) has collected collateral under section 9- 607 of this title;

    (2) has disposed of collateral or entered into a contract for its disposition under section 9- 610 of this title; or

    (3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 9- 622 of this title. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)