Each surety bond or other approved security issued for a manufactured home manufacturer, a manufactured home retail dealer, or a salesperson must be indemnity for a loss sustained by a consumer as a result of:
(1) a violation of a provision of this chapter or a regulation of the board;
(2) a violation of the written warranty or failure to fulfill warranty obligations as outlined in this chapter;
(3) fraud in the execution or performance of a contract;
(4) a misrepresentation in reference to the sale of a manufactured home;
(5) refusal, failure, or inability to transfer good and sufficient legal title to the consumer;
(6) a misappropriation of funds belonging to the consumer;
(7) an alteration to deceive the consumer as to the manufacture or construction of the product;
(8) a false and fraudulent representation or deceitful practice in selling, financing, or representing a product or service.
HISTORY: 2001 Act No. 61, Section 1.
Editor's Note
Prior Laws:1989 Act No. 128, Section 1; 1976 Code Section 40-29-140.