House Bill 4033

Requires beneficiary or beneficiary's agent to prepare and deliver note that is evidence of obligation grantor owes to beneficiary and beneficiary statement within 21 days after receiving demand for statement from entitled person. Specifies time within which entitled person may make demand. Requires beneficiary or beneficiary's agent to prepare and deliver payoff statement to entitled person within 21 days after receiving demand for payoff statement. Specifies exceptions to requirement. Provides that entitled person may rely on beneficiary statement or payoff statement in accordance with terms of statement. Specifies that beneficiary or beneficiary's agent must deliver amendment to statement in writing one business day after providing notice of amendment by means other than in writing. Provides that beneficiary or beneficiary's agent may require reasonable proof that person demanding statement is entitled person or authorized agent of entitled person. Defines "reasonable proof." Provides that beneficiary or beneficiary's agent is liable to entitled person for entitled person's actual damages plus statutory penalty of $300 if beneficiary or beneficiary's agent willfully fails to prepare and deliver statement. Permits beneficiary or beneficiary's agent, with some exceptions, to charge fee of not more than $30 to prepare and deliver statement. Provides that if beneficiary or beneficiary's agent fails to include sum owed to beneficiary in statement or amended statement, beneficiary or beneficiary's agent may recover sum only as unsecured creditor after specified dates.

In the House of Representatives

• Sal Esquivel

  Sponsor

In the Senate

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 3 – Mar 7

1. Feb 3Introduced
2. Sent to Consumer Protection and Government Efficiency
3. Mar 7Died when the session ended