(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 R.S. 10:9-615(a)(1). (c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under R.S. 10:9-607; (2) has disposed of collateral or entered into a contract for its disposition under R.S. 10:9-610; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under R.S. 10:9-622. (d) Redemption in judicial proceeding. If collateral has been seized in a judicial proceeding, a redemption may occur at any time before the judicial sale. To redeem collateral in such circumstances, a person shall also tender the costs of the proceeding.
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