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A. Persons That May Redeem. A debtor, any secondary obligor, or any other secured party or lien holder may redeem collateral.

B. Requirements for Redemption. 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 27A ONC § 9-615(A)(1), dealing with application of proceeds of disposition.

C. When Redemption May Occur. A redemption may occur at any time before a secured party:

1. Has collected collateral under 27A ONC § 9-607;

2. Has disposed of collateral or entered into a contract for its disposition under 27A ONC § 9-610; or

3. Has accepted collateral in full or partial satisfaction of the obligation it secures under 27A ONC § 9-620. ONCA 07-22, eff. June 18, 2007.