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ID H0624
Bill
Status
4/5/2012
Primary Sponsor
Ways and Means Committee
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AI Summary
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Prohibits trustees conducting foreclosure sales from having any financial interest in newspapers that publish the required notice of trustee's sale.
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Prohibits trustees from profiting, directly or indirectly, based on the publication of notice of trustee's sale in any newspaper.
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Establishes violation of these prohibitions as a misdemeanor punishable by imprisonment in county jail for up to one year, a fine of up to $1,000, or both.
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Applies to notices that must be published once a week for four successive weeks with the last publication at least 30 days prior to the sale date.
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Declares an emergency, making the act effective upon passage and approval.
Legislative Description
Amends existing law relating to trust deeds to prohibit trustees from having a financial interest in a newspaper publishing certain notices and to prohibit trustees from profiting, directly or indirectly, based on requisite publication of notice of trustee's sale; to provide that such conduct shall constitute a misdemeanor and to provide penalties.
TRUST DEEDS
Last Action
Governor signed Session Law Chapter 326 Effective: 04/05/12
4/5/2012