1. Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
2. Requirements for redemption. To redeem collateral, a person shall tender:
a. fulfillment of all obligations secured by the collateral; and
b. the reasonable expenses and attorney's fees described in section 554.9615, subsection 1, paragraph "a".
3. When redemption may occur. A redemption may occur at any time before a secured party:
a. has collected collateral under section 554.9607;
b. has disposed of collateral or entered into a contract for its disposition under section 554.9610; or
c. has accepted collateral in full or partial satisfaction of the obligation it secures under section 554.9622.
2000 Acts, ch 1149, §121, 187
Effective July 1, 2001; 2000 Acts, ch 1149, §187; for law prior to July 1, 2001, see Code 2001
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