Ark. Code Ann. » Title 4 Chapter 09
Arkansas Code Annotated

Ark. Code Ann. § 4-9-623 (2020)

Right to redeem collateral

✓ Arkansas Code release r76: Acts through about 2020 (2021-2025 sessions missing)
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  1. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
  2. 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 § 4-9-615(a)(1).
  3. A redemption may occur at any time before a secured party:
    1. has collected collateral under § 4-9-607;
    2. has disposed of collateral or entered into a contract for its disposition under § 4-9-610; or
    3. has accepted collateral in full or partial satisfaction of the obligation it secures under § 4-9-622.

History. Acts 2001, No. 1439, § 1.

Case Notes

Insufficient Tender.

Purchaser's tender of payment was insufficient to fulfill all OF the obligations secured by the collateral. White v. Associates Com. Corp., 20 Ark. App. 140, 725 S.W.2d 7 (1987) (decision under prior law).

Cited: Whitson v. Yaffe Iron & Metal Corp., 385 F.2d 168 (8th Cir. 1967); Walker v. Grant County Sav. & Loan Ass'n, 304 Ark. 571, 803 S.W.2d 913 (1991) (decisions under prior law).

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2021–2021 · leading case: Jennifer Rivera-ceren v. Presidential Limousine & Auto Sales, Inc., 2021 Ark. 219, 635 S.W.3d 304.
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Jennifer Rivera-ceren v. Presidential Limousine & Auto Sales, Inc., 2021 Ark. 219, 635 S.W.3d 304. · cites it 2× “5 percent per-day interest rate, in addition to the underlying obligation that must be paid to redeem the collateral, violated Arkansas Code Annotated section 4-9-623, the Arkansas Deceptive Trade Practices Act (“ADTPA”), and the Arkansas Constitution’s prohibition against…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.