Section 6229 – Transfer
§ 6229. Transfer. (a) Installment seller.–An installment seller of a motor vehicle under an installment sale contract executed in this Commonwealth may not sell, transfer or assign the obligation represented by the contract to a person in this Commonwealth or elsewhere unless the person is licensed as a sales finance company under this chapter. (b) […]
Section 6213 – Bond
§ 6213. Bond. (a) Bond required.–A bond shall accompany each license application for a sales finance company and collector-repossessor. (b) Form.–The bond shall be in the form prescribed by the department. (c) Amount.– (1) A bond for a sales finance company shall be in the amount of $10,000. (2) A bond for a collector-repossessor shall […]
Section 6230 – Statement of account to buyer
§ 6230. Statement of account to buyer. (a) Information to be included.–At any time after the execution of an installment sale contract and within one year after the termination of the contract, a holder of the contract shall furnish to the buyer upon request a complete and detailed statement of account showing the following: (1) […]
Section 6214 – License fees
§ 6214. License fees. (a) Amount.–A license application shall be accompanied by a license fee as set forth in section 603-A of the act of April 9, 1929 (P.L.177, No.175), known as The Administrative Code of 1929. (b) Abatement.–No abatement in the amount of the license fee shall be made if the license is: (1) […]
Section 6231 – Payment receipts
§ 6231. Payment receipts. (a) When necessary.–When payment is made on an installment sale contract, the person receiving the payment shall, at the time of receiving the payment, furnish a complete written payment receipt to the buyer or individual making the payment on behalf of the buyer if: (1) the buyer requests such receipt; or […]
Section 6215 – License certificate
§ 6215. License certificate. (a) Issuance.–If the department approves an applicant’s license application, it shall issue to the applicant a license certificate showing the name and address of the person authorized to do business under the license. (b) Public inspection.– (1) An installment seller and a sales finance company shall post the license certificate in […]
Section 6232 – Release of liens
§ 6232. Release of liens. (a) Duty of holder.–Upon payment in full of the time balance and other amounts lawfully due under an installment sale contract, a holder shall perform the following: (1) Upon request, return to the buyer all instruments in the form maintained by the holder, except those filed or recorded with a […]
Section 6216 – License renewal
§ 6216. License renewal. An application for a license renewal shall have the following characteristics: (1) The application shall be in writing, under oath and in the form prescribed by the department. (2) The application shall be filed at least 15 days prior to October 1. (3) The application shall include an update of the […]
Section 6233 – Prohibited charges
§ 6233. Prohibited charges. (a) General rule.–Except as provided in subsections (b) and (c), a licensee may directly or indirectly charge, contract for, collect or receive from the buyer, in connection with the retail sale of a motor vehicle under an installment sale contract, insurance charges, other charges necessary or incidental to the sale of […]
Section 6217 – Refusal to issue license or license renewal
§ 6217. Refusal to issue license or license renewal. (a) Discretionary refusal.–Subject to subsection (b), the department may refuse to issue a license or renew a license because of any of the following: (1) The applicant has made a material misstatement in the application for license or license renewal. (2) The existence of any of […]