California § 2984.5. 2984.5. (Added by Stats. 2003, Ch. 59, Sec. 1.)

California Statutes

§ 2984.5. — 2984.5. (Added by Stats. 2003, Ch. 59, Sec. 1.)

California·Code CIV Civil Code - CIV·Div. 3. DIVISION 3. OBLIGATIONS·Title 14.·Part 4. TITLE 14. LIEN·Ch. 2b. CHAPTER 2b. Automobile Sales Finance Act

(a)A seller shall maintain the following documents for at least seven years or the length of the conditional sales contract, whichever is longer:

(1)A copy of each buyer’s conditional sales contract.

(2)Any documents relied upon by the seller to determine a buyer’s creditworthiness, including, but not limited to, any consumer credit report, as defined in Section 1785.3, or any other document containing a buyer’s credit score, as defined in Section 1785.15.1.

(3)If the conditional sales contract is sold, assigned, or otherwise transferred, a copy of the terms of that sale, assignment, or transfer.

(b)A seller that unlawfully fails to comply with a court order to produce the documents described in subdivision (a) shall be liable in an action brought by the Attorney General for a civil p

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
A seller shall maintain the following documents for at least seven years or the length of the conditional sales contract, whichever is longer:
(1)
A copy of each buyer’s conditional sales contract.
(2)
Any documents relied upon by the seller to determine a buyer’s creditworthiness, including, but not limited to, any consumer credit report, as defined in Section 1785.3, or any other document containing a
buyer’s credit score, as defined in Section 1785.15.1.
(3)
If the conditional sales contract is sold, assigned, or otherwise transferred, a copy of the terms of that sale, assignment, or transfer.
(b)
A seller that unlawfully fails to comply with a court order to produce the documents described in subdivision (a) shall be liable in an action brought by the Attorney General for a civil penalty of five thousand dollars ($5,000) per violation. The penalties provided by this section are in addition to all rights and remedies that are otherwise available under law.

California § 2984.5. (2984.5. (Added by Stats. 2003, Ch. 59, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.