Alaska Statutes: AS 45.29.623. Right to Redeem Collateral.

Alaska Statutes. Title 45. Trade and Commerce Chapter 29. Secured Transactions Section 623. Right to Redeem Collateral.

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AS 45.29.623. Right to Redeem Collateral.

(a) A debtor, a secondary obligor, or 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 fees described in AS 45.29.615(a)(1).
(c) A redemption may occur at any time before a secured party has

(1) collected collateral under AS 45.29.607 ;

(2) disposed of collateral or entered into a contract for its disposition under AS 45.29.610 ; or

(3) accepted collateral in full or partial satisfaction of the obligation it secures under AS 45.29.622 .

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