Tex. Business & Commerce Code § 9.623
This is the official text of Tex. Business & Commerce Code § 9.623, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 9.623. RIGHT TO REDEEM COLLATERAL.
Official statutory text
(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 attorneys' fees described in Section 9.615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) has collected collateral under Section 9.607;
(2) has disposed of collateral or entered into a contract for its disposition under Section 9.610; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 9.622.
(b) 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 9.615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) has collected collateral under Section 9.607;
(2) has disposed of collateral or entered into a contract for its disposition under Section 9.610; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 9.622.
Status: in_force · Read it on the official government site
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