Section 5584 - How to Report a New Junior Lienholder(a) Within 20 days of acquiring a security interest in a unit, the junior lienholder shall submit an application for registration to the department to report the interest of the junior lienholder, which shall include: (1) The last-issued registered owner's Registration Card.(2) A statement signed under penalty of perjury by all registered owner(s) which includes: (A) the unit(s) identifying information;(B) the registered owner identifying information;(C) the junior lienholder identifying information; and(D) an acknowledgment that the junior lienholder's interest is to be secured against his/her/their unit.(3) Payment of the Lien Registration Service Fee specified in subsection 5660(m).(b) In lieu of the last-issued registered owner(s) Registration Card required by (a)(1) above, an application for Duplicate Registration Card, as specified in Section 5551, signed by the registered owner(s), shall be submitted, which includes: (1) a statement signed under penalty of perjury by the junior lienholder that provides: (A) the unit(s) identifying information;(B) the registered owner identifying information;(C) the junior lienholder's identifying information; and(D) an acknowledgment that the junior lienholder is aware that:1. the original registration card is not being submitted, and2. the original registration card could be used to secure an additional lienholder, which could affect his or her junior lienholder's ranking.(c) The department will assign a rank-order to a junior lienholder, based upon the date a complete application, including all appropriate documents and fees, was received by the department.Cal. Code Regs. Tit. 25, § 5584
1. New section filed 12-31-97; operative 1-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 1). Note: Authority cited: Sections 18015 and 18075, Health and Safety Code. Reference: Sections 18005.3, 18080.7, 18085 and 18100.5(a), Health and Safety Code.
1. New section filed 12-31-97; operative 1-1-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 1).