1. Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. 2. Requirements for redemption. To redeem collateral, a person shall tender: a. fulfillment of all obligations secured by the collateral; and b. the reasonable expenses and attorney’s fees described in section 554.9615, subsection 1, paragraph “a”. 3. When redemption may occur. A redemption may occur at any time before a secured party: a. has collected collateral under section 554.9607; b. has disposed of collateral or entered into a contract for its disposition under section 554.9610; or c. has accepted collateral in fullor partial satisfaction of the obligation it secures under section 554.9622.
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