(2) Any transferee or purchaser who does not receive the notice described in subsection (1) of this section may set aside the transfer or sale as voidable and bring suit to recover damages for any losses incurred because of the failure to give such notice.
(3) The transferor or seller of any property described in subsection (1) of this section shall notify the authority of the transfer or sale as required by rule of the authority. [1989 c.915 §5; 2009 c.595 §924]