Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 9. · Article 9. SECURED TRANSACTIONS · Part 6. DEFAULT

11-9-623. Right to redeem collateral.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(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. (1)
  Fulfillment of all obligations secured by the collateral; and#
2. (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. (1)
  Has collected collateral under Code Section 11-9-607;#
2. (2)
  Has disposed of collateral or entered into a contract for its disposition under Code Section 11-9-610; or#
3. (3)
  Has accepted collateral in full or partial satisfaction of the obligation it secures under Code Section 11-9-622.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 11-9-623, enacted by Ga. L. 2001, p. 362, § 1.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 941 to 942; merge action: carried; file SHA-256 ad397fccbf21.