Iowa Code § 554.9623
Right to redeem collateral
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
1. Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
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:
2. Requirements for redemption. To redeem collateral, a person shall tender:
a. fulfillment of all obligations secured by the collateral; and
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”.
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:
3. When redemption may occur. A redemption may occur at any time before a secured party:
a. has collected collateral under section 554.9607;
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
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.
c. has accepted collateral in full or partial satisfaction of the obligation it secures under section 554.9622.
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.