(a)Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder 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 paragraph (1) of subsection (a) of Code Section 11-9-615.(c)When redemption may occur. A redemption may occur at any time before a secured party: (1) Has collected collateral under Code Section 11-9-607;(2) Has disposed of collateral or entered into a contract for its disposition under Code Section 11-9-610; or(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under Code Section 11-9-622.Added by 2001 Ga. Laws 191, § 1, eff. 7/1/2001.
Georgia Legal Code