California Government Code

§ 53357.1

GOV § 53357.1 Effective Jan 1, 2014Div. 2 · Title 5 · Part 1 · Ch. 2.5 · Art. 5

Statute text

(a)In connection with the issuance of bonds in which a property owner agrees, by written consent, to disclose certain information on a continuous basis through the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access, or successor information depository, the local agency may execute and record in the office of the county recorder, in which the community facilities district is located, a notice of the owner’s disclosure agreement for the purpose of providing notice to a subsequent transferee. The owner’s written consent shall be attached to the notice.

(b)A subsequent transferee of the property shall be subject to the disclosure obligation. Upon the termination of the disclosure obligation, the local agency may cause a notice of termination to be recorded with the office of the county recorder in which the original notice was recorded.

(c)Notwithstanding Sections 6103 and 27383, the county recorder may charge an appropriate fee for the expense incurred in recording the notices provided for in this section.

Legislative history

Added by Stats. 2013, Ch. 219, Sec. 8. (SB 692) Effective January 1, 2014.