N.C. Gen. Stat. § 25-9-623
Right to redeem collateral
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(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: Fulfillment of all obligations secured by the collateral; and
(2) Requirements for redemption. — 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 G.S. 25-9-615(a)(1).
(3) The reasonable expenses and attorney’s fees described in G.S. 25-9-615(a)(1).
(4) When redemption may occur. - A redemption may occur at any time before a secured party: Has collected collateral under G.S. 25-9-607;
(4) When redemption may occur. — A redemption may occur at any time before a secured party: Has collected collateral under G.S. 25-9-607;
(5) Has disposed of collateral or entered into a contract for its disposition under G.S. 25-9-610; or
(5) Has disposed of collateral or entered into a contract for its disposition under G.S. 25-9-610; or
(6) Has accepted collateral in full or partial satisfaction of the obligation it secures under G.S. 25-9-622.
(6) Has accepted collateral in full or partial satisfaction of the obligation it secures under G.S. 25-9-622.
History
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.