Bảo hiểm & Quyền cầm giữCâu 1477 / 1605
On a private work with a construction lender, for a stop payment notice to bind the LENDER to withhold funds, the claimant generally must:
a.Simply mail an informal letter to the lender
b.Obtain a court order first
c.Record the notice with the county recorder
d.Serve a bonded stop payment notice (accompanied by a bond of 1.25 times the claim) unless the lender voluntarily withholds
Giải thích
Civil Code §8532 requires a stop payment notice to a construction lender to be 'bonded' — accompanied by a surety bond of 125% (1.25 times) of the claim — to obligate the lender to withhold funds. A stop notice to the owner does not require a bond.
Trích dẫn luật: Civ. Code §8506Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- To remove a recorded mechanics lien from the property when a payment dispute is resolved, the contractor typically records a:
- After recording a mechanics lien, within what period must the claimant file a lawsuit (action) to foreclose the lien, or the lien becomes unenforceable?
- A 'stop payment notice' (formerly 'stop notice') is a remedy that allows an unpaid claimant to reach:
- On many private commercial projects, the direct contractor furnishes a 'payment bond.' The primary purpose of a contractor's payment bond is to:
- California law makes which type of insurance MANDATORY for any contractor who has employees?
- A licensed contractor who has NO employees but holds a C-10 electrical, C-8 concrete, C-20 HVAC, C-22 asbestos, or D-49 tree service classification must:
Cập nhật gần nhất: · quy trình kiểm tra
Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)