After the recovery corporation pays or rejects a claim, all of the following apply:
(a) Immediately upon payment, the recovery corporation shall be subrogated to all
of the consumer's rights against the dealer or lessor-retailer to the extent of the
amount of the payment.
(b) The recovery corporation may bring an action to recover the amount of the payment
plus interest at the rate of 10 percent per annum and shall be entitled to recover
costs and reasonable attorney's fees.
(c) Within 10 days of paying the claim, the recovery corporation shall inform the
department of the payment of the claim, the amount of the payment, and the name and
address of the dealer or lessor-retailer that is the subject of the claim. Upon the department's request, the recovery corporation shall provide the department
with a copy of the claim application and other documents received by the recovery
corporation in connection with the claim.
(d) Within 15 days of paying or rejecting the claim, the recovery corporation shall
serve the dealer or lessor-retailer that is the subject of the claim with notice of
the recovery corporation's disposition of the claim in the manner provided for service
in subdivision (b) of Section 12207.
(e) After the consumer receives payment of the eligible claim from the recovery corporation,
the consumer shall not seek to recover the amount received from the recovery corporation
for the eligible claim from the dealer's bond required by Section 11710. Nothing in this subdivision affects any other rights the consumer may have as provided
in Section 12217.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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