58-2340. Same; liability of lenders upon failure to comply with act's requirements. - Kansas Statutes

58-2340

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 23.--MORTGAGES OF REAL PROPERTY

      58-2340.   Same; liability of lenders upon failure to comply with act'srequirements.If the selling lender fails to comply with therequirements of K.S.A. 58-2338, or the purchasing lender failsto comply with the requirements ofK.S.A. 58-2339, and such failure to comply was due to the lender'sfailureto exercise reasonable care, the lender is liable to the mortgagor for $100per occurrence,in addition to actual damages caused by the failure to comply.

      History:   L. 1988, ch. 57, § 4; July 1.