S.C. Code Ann. § 36-9-623

Right to redeem collateral

Known as the Uniform Commercial Code

The act spans §§ 36–36 (519 sections).

Applied in 1 court decision — leading case Nelson v. Arlington Auto Exchange (In re Nelson) (2014)

Most recently applied in Nelson v. Arlington Auto Exchange (In re Nelson) (December 2014)

2001 Act No. 67, SECTION 12.

(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 attorney's fees described in Section 36-9-615(a)(1).

(1) has collected collateral under Section 36-9-607;

(2) has disposed of collateral or entered into a contract for its disposition under Section 36-9-610; or

(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 36-9-622.

Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.