AB 501: Lawsuits, liens, and other encumbrances.

This bill amends existing laws to provide stricter penalties for filing false lawsuits, liens, or other encumbrances against individuals or entities, particularly public officers or employees. The liability for such actions would increase from $5,000 to $15,000. The bill also updates the Uniform Commercial Code-secured transactions by requiring the Secretary of State to notify the debtor within 21 days after a financing statement is filed. Additionally, the bill mandates that any court fees incurred by a debtor be paid at the end of the judicial proceeding. Finally, the bill holds liable any party found to have violated the provision regarding lawsuits, liens, or other encumbrances, with the debtor entitled to three times all court fees paid.