§ 956 — Additional liabilities of mortgage investing institutions

§ 956. Additional liabilities of mortgage investing institutions. 1.\nIn addition to any other remedies permitted by law, a mortgagor whose\ntaxes are to be paid by means of a real property tax escrow account\npursuant to this title may bring an action against the mortgage\ninvesting institution maintaining such account for the mortgagor under\nthe provisions of this section if payments for real property taxes have\nnot been made for one hundred eighty days after the date such taxes have\nbecome due and payable. If a court shall find, after considering the\ncircumstances of the failure of a mortgage investing institution to pay\nthe real property taxes of a mortgagor pursuant to an escrow agreement,\nthat such failure was due to the negligence or intentional acts of the\nmortgage investing institution, its agent, or both, the court may award\nthe mortgagor injunctive relief and liquidated damages in an amount\nequal to three times the tax not paid within such one hundred eighty day\nperiod but in no event greater than six thousand dollars.\n 2. In addition to any other violations provided by law, if a mortgage\ninvesting institution through negligence or intentional acts fails to\npay real property taxes for more than one hundred eighty days after the\ndate such taxes become due and payable, it shall constitute a separate\nviolation of this title.\n