Section 6262 – Procedures for manufactured homes
§ 6262. Procedures for manufactured homes. (a) Notice.– (1) A holder of an installment sale contract for a manufactured home shall give the buyer notice under this subsection before the holder takes any of the following actions: (i) Accelerates the maturity of the installment sale contract for the manufactured home. (ii) Commences a legal action […]
Section 6311 – Validity
§ 6311. Validity. A provision in a closed-end credit agreement or an open-end credit agreement that is prohibited by this chapter is void but does not otherwise affect the validity of the agreement.
Section 6271 – Operating without license
§ 6271. Operating without license. (a) Prohibition; penalty.–An entity or individual under subsection (b) engaging in business in this Commonwealth as an installment seller, sales finance company or collector-repossessor without having obtained a license under this chapter commits a violation of this chapter and shall, upon conviction, be sentenced at the discretion of the court […]
Section 6312 – Discharge of obligation
§ 6312. Discharge of obligation. Unless a buyer has notice of the actual or intended assignment of a closed-end credit agreement or an open-end credit agreement, payment made by the buyer to the last known holder of the agreement shall, to the extent of the payment, discharge the buyer’s obligation.
Section 6272 – Violation of chapter provisions
§ 6272. Violation of chapter provisions. A licensee or an owner, partner, member, officer, director, trustee, employee, agent, broker or representative of the licensee who violates a provision of this chapter or directs a violation of this chapter commits a violation of this chapter and shall, upon conviction, be sentenced at the discretion of the […]
Section 6313 – Prepayment of obligation
§ 6313. Prepayment of obligation. (a) Right to prepay.–Notwithstanding the provisions of a closed-end credit agreement or an open-end credit agreement, a buyer may prepay without additional charge at any time all or part of the time balance under the agreement. (b) Refund credit.– (1) Pursuant to a closed-end credit agreement and subject to this […]
Section 6273 – Use of unlicensed collector-repossessor
§ 6273. Use of unlicensed collector-repossessor. A licensed seller or sales finance company acting as holder of a motor vehicle installment sale contract who hires, authorizes or permits an unlicensed collector-repossessor, as defined in this chapter, to collect payments on the contract or repossess a motor vehicle sold under the contract within this Commonwealth commits […]
Section 6274 – Civil penalty by department
§ 6274. Civil penalty by department. A person required to be licensed under this chapter that violates this chapter, directs a violation of this chapter or engages in an activity for which a license could be suspended or revoked under section 6218 (relating to revocation or suspension of license) shall be subject to a civil […]
Section 6275 – Liability of sales finance company
§ 6275. Liability of sales finance company. (a) Exemption from liability.–A sales finance company licensed under this chapter and engaged in the purchase, sale, assignment, securitization or servicing of installment sale contracts may not be held liable under this chapter for either of the following: (1) Excessive markups of charges by installment sellers. (2) A […]
Section 6301 – Scope of chapter
§ 6301. Scope of chapter. This chapter relates to goods and services installment sales.