California Financial Code

§ 22684

FIN § 22684 Effective Jan 1, 2021Div. 9 · Ch. 3.5

Statute text

A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the following criteria are satisfied:

(a)All property taxes for the property that will be subject to the assessment contract are current. The program administrator shall ask a property owner whether there has been no more than one late payment of property taxes on the property for the previous three years or since the current owner acquired the property, whichever period is shorter.

(b)The property that will be subject to the assessment contract has no recorded and outstanding involuntary liens in excess of one thousand dollars ($1,000).

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Legislative history

Amended by Stats. 2020, Ch. 156, Sec. 1. (AB 1551) Effective January 1, 2021.