- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 29. Secured Transactions
- Section 623. Right to Redeem Collateral.
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. Effect of Acceptance of 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
- (3) accepted collateral in full or partial satisfaction of the obligation it secures under AS 45.29.622
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