Michigan § 440.9623 - Right to redeem collateral.
Full text of Michigan Michigan Compiled Laws § 440.9623 — Right to redeem collateral., with citation guidance and answers to common questions.
§ 440.9623. Right to redeem collateral.
A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
To redeem collateral, a person shall tender both of the following:
Fulfillment of all obligations secured by the collateral.
The reasonable expenses and attorney fees described in section 9615(1)(a).
A redemption may occur at any time before a secured party has done 1 of the following:
Has collected collateral under section 9607.
Has disposed of collateral or entered into a contract for its disposition under section 9610.
Has accepted collateral in full or partial satisfaction of the obligation it secures under section 9622.
Frequently Asked Questions About Michigan § 440.9623
What does Michigan Compiled Laws § 440.9623 cover?
Section 440.9623 ("Right to redeem collateral.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 440.9623?
A common citation format is "Michigan Compiled Laws § 440.9623" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.9623 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.