Acts warranting consumer indemnity from security bond.

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. Editor's Note Prior Laws:1989 Act No. 128, SECTION 1; 1976 Code SECTION 40-29-140.