Section 57414 Of Chapter 11. Dairy Cattle Supply Lien From California Food And Agricultural Code >> Division 20. >> Chapter 11.
57414
. (a) When a lien claimant receives payment for amounts
secured by the lien and the lien claimant has not been providing feed
or materials for a period of 30 consecutive days, the lien claimant
shall, on written demand by the debtor, send the debtor a statement
that he or she no longer claims a security interest under the
statement, which shall be identified by date, names of parties
thereto, and file number. If the affected lienholder of record fails
to send such a termination statement within 10 days after proper
demand therefor, he or she shall be liable to the debtor for all
actual damages suffered by the debtor by reason of this failure, and,
if the failure is in bad faith, for a penalty of one hundred dollars
($100).
(b) The filing officer shall mark each termination statement with
the date and time of filing and shall index the statement under the
name of the debtor and under the file number of the original lien. If
the filing officer has a microfilm or other photographic record of
the lien and related filings, he or she may remove the originals from
the files at any time after receipt of the termination statement and
destroy them, or if he or she does not have the record, he or she
may remove them from those files at any time after one year after
receipt of the termination statement and destroy them.