(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). (c) A redemption may occur at any time before a secured party: (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. HISTORY: 2001 Act No. 67, Section 12.
South Carolina Legal Code