18035.5
. (a) As used in this section:
(1) "Secured party" means a legal owner or junior lienholder.
(2) "Entitled party" means a registered owner or any person
holding a security interest or other lien or encumbrance which is
subordinate to the security interest of the secured party or an
escrow agent in conjunction with an escrow involving the sale or
transfer of an interest in a manufactured home, mobilehome, or
commercial coach subject to registration under this part.
(b) A secured party shall, on the written demand of an entitled
person, or the authorized agent of the entitled person, prepare and
deliver to the person demanding it, a true, correct, and complete
copy of the conditional sale contract or the promissory note and
security agreement and any subsequent modification thereto, and a
written statement indicating all of the following:
(1) The amount of the unpaid balance of the obligation owing to
the secured party and the interest rate, together with the total
amounts, if any, of all overdue installments of either principal or
interest, or both.
(2) The amounts of periodic payments, if any.
(3) The date on which the obligation is due in whole or in part.
(4) The date to which taxes and special assessments have been paid
to the extent that information is known to the secured party.
(5) The amount of hazard insurance in effect and the term and
premium of that insurance to the extent that information is known to
the secured party.
(6) The amount in an account, if any, maintained for the
accumulation of funds with which to pay taxes and insurance premiums.
(7) The nature and, if known, the amount of any additional
charges, costs, or expenses paid or incurred by the secured party
which have become a lien on the manufactured home, mobilehome, or
commercial coach involved.
(8) If applicable, a statement indicating that subsequently
incurred obligations will be secured by the manufactured home,
mobilehome, or commercial coach and, if there is a maximum amount
that may thereafter become secured, the maximum amount that may
thereafter become secured.
(c) The secured party may, before delivering a statement, require
reasonable proof that the person making the demand is, in fact, an
entitled person, in which event the secured party shall not be
subject to the penalties of this section until 21 days after receipt
of the proof herein provided for. A statement in writing signed by
the entitled person appointing an authorized agent when delivered
personally to the secured party or delivered by registered return
receipt mail shall constitute reasonable proof as to the identity of
an agent. Similar delivery of a policy of title insurance,
preliminary report issued by a title company, original or
photographic copy of a sales agreement covering the manufactured
home, mobilehome, or commercial coach or certified copy of letters
testamentary, guardianship, or conservatorship shall constitute
reasonable proof as to the identity of a successor in interest,
provided the person demanding a statement is named as successor in
interest in the document.
(d) Delivery of the statement by the secured party, as herein
referred to, shall mean depositing or causing to be deposited in the
United States mail an envelope, with postage prepaid, containing a
copy of the statement, addressed to the person whose name and address
is set forth in the demand therefor.
(e) If a secured party for a period of 21 days after receipt of
the written demand willfully fails to prepare and deliver the
statement, the secured party is liable to the entitled person for all
damages which may be sustained by reason of the refusal and, whether
or not actual damages are sustained, the secured party shall forfeit
to the entitled person the sum of three hundred dollars ($300). Each
such failure to prepare and deliver such a statement, occurring at a
time when, pursuant to this section, the secured party is required
to prepare and deliver the statement, creates a separate cause of
action, but a judgment awarding an entitled person such forfeiture,
or damages and forfeiture, for any such failure to prepare and
deliver a statement bars recovery of such damages and forfeiture for
any other failure to prepare and deliver a statement, with respect to
the same obligation, in compliance with a demand therefor made
within six months before or after the demand as to which the award
was made.
(f) If the secured party has more than one branch, office, or
other place of business, then the demand shall be made to the branch
or office at which the payments of the obligation are made, and the
statement, unless it specifies otherwise, shall be deemed to apply
only to the unpaid balance owing to or payable at that branch office
or place of business.
(g) The secured party may make a charge not to exceed fifty
dollars ($50) for furnishing the required statement, whether or not
the security agreement covering the manufactured home, mobilehome, or
commercial coach so provides.