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Right to redeem collateral.

G.S. 25-9-623
in effect
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§ 25-9-623.  Right to redeem collateral. (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 G.S. 25-9-615(a)(1). (c) When redemption may occur. - A redemption may occur at any time before a secured party: (1) Has collected collateral under G.S. 25-9-607; (2) Has disposed of collateral or entered into a contract for its disposition under G.S. 25-9-610; or (3) Has accepted collateral in full or partial satisfaction of the obligation it secures under G.S. 25-9-622. (1965, c. 700, s. 1; 1975, c. 862, s. 7; 2000-169, s. 1.)
Source: North Carolina General Assembly (ncleg.gov)URL: https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-623.htmlFetched: 10/19/2026

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