Page:United States Statutes at Large Volume 117.djvu/2866

 PUBLIC LAW 108–189—DEC. 19, 2003

117 STAT. 2847

‘‘(2) APPLICABILITY.—This section applies only to a contract for which a deposit or installment has been paid by the servicemember before the servicemember enters military service. ‘‘(b) PENALTIES.— ‘‘(1) MISDEMEANOR.—A person who knowingly resumes possession of property in violation of subsection (a), or in violation of section 107 of this Act, or who knowingly attempts to do so, shall be fined as provided in title 18, United States Code, or imprisoned for not more than one year, or both. ‘‘(2) PRESERVATION OF OTHER REMEDIES AND RIGHTS.—The remedies and rights provided under this section are in addition to and do not preclude any remedy for wrongful conversion otherwise available under law to the person claiming relief under this section, including any award for consequential and punitive damages. ‘‘(c) AUTHORITY OF COURT.—In a hearing based on this section, the court— ‘‘(1) may order repayment to the servicemember of all or part of the prior installments or deposits as a condition of terminating the contract and resuming possession of the property; ‘‘(2) may, on its own motion, and shall on application by a servicemember when the servicemember’s ability to comply with the contract is materially affected by military service, stay the proceedings for a period of time as, in the opinion of the court, justice and equity require; or ‘‘(3) may make other disposition as is equitable to preserve the interests of all parties. ‘‘SEC. 303. MORTGAGES AND TRUST DEEDS.

‘‘(a) MORTGAGE AS SECURITY.—This section applies only to an obligation on real or personal property owned by a servicemember that— ‘‘(1) originated before the period of the servicemember’s military service and for which the servicemember is still obligated; and ‘‘(2) is secured by a mortgage, trust deed, or other security in the nature of a mortgage. ‘‘(b) STAY OF PROCEEDINGS AND ADJUSTMENT OF OBLIGATION.— In an action filed during, or within 90 days after, a servicemember’s period of military service to enforce an obligation described in subsection (a), the court may after a hearing and on its own motion and shall upon application by a servicemember when the servicemember’s ability to comply with the obligation is materially affected by military service— ‘‘(1) stay the proceedings for a period of time as justice and equity require, or ‘‘(2) adjust the obligation to preserve the interests of all parties. ‘‘(c) SALE OR FORECLOSURE.—A sale, foreclosure, or seizure of property for a breach of an obligation described in subsection (a) shall not be valid if made during, or within 90 days after, the period of the servicemember’s military service except— ‘‘(1) upon a court order granted before such sale, foreclosure, or seizure with a return made and approved by the court; or

VerDate 11-MAY-2000

50 USC app. 533. Applicability.

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