Ark. Code Ann. § 4-9-623

Right to redeem collateral

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Acts 2001, No. 1439, § 1.

(1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

(2) To redeem collateral, a person shall tender: fulfillment of all obligations secured by the collateral; and

(3) the reasonable expenses and attorney's fees described in § 4-9-615(a)(1).

(4) A redemption may occur at any time before a secured party: has collected collateral under § 4-9-607;

(5) has disposed of collateral or entered into a contract for its disposition under § 4-9-610; or

(6) has accepted collateral in full or partial satisfaction of the obligation it secures under § 4-9-622.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.