Pennsylvania Administrative Code

§ 65.6. Loss of pledgor’s copy. (a) When the pledgor’s copy of a pawn ticket is lost, destroyed, or stolen the pledgor shall notify the licensee by registered mail or in person. Upon such notice, the licensee shall either: (1) Issue a ‘‘stop ticket.’’ (2) Issue a duplicate ticket…

§ 65.7. Negotiability. Pawn tickets may be transferred merely by delivery. Licensees shall be required to deliver the pledge described in the ticket to the person presenting the ticket, upon payment of the principal and charges due, except when the licensee has been previously no…

§ 65.8. Ticket alteration. (a) Whenever the copy of a pawn ticket delivered to the pledgor has been altered, the pledge shall be delivered according to the terms of the ticket as originally issued, as disclosed by the unaltered copy of the same ticket retained by the licensee. (b…

§ 65.9. Counterfeit ticket. Whenever a counterfeit pawn ticket is presented to a licensee, the licensee may seize and retain the ticket. Upon seizure of a counterfeit pawn ticket, the licensee shall immediately notify the Department and local police authorities. Source The provis…

GENERAL PROVISIONS § 67.1. Notice. (a) Notice of contemplated sale of a pledge on a defaulted loan of 7 dollars or more shall be mailed to the last known address of the pledgor at least 30 days prior to the date of sale. (b) The notice of sale shall show the total amounts of prin…

PROCEEDS AND SURPLUS § 67.11. Application. (a) The proceeds from the sale of a pledge shall be applied as follows: (1) Payment of the charges of the auctioneer, if sold at public sale. (2) Payment of selling commission, not to exceed 5.0%, if sold at private sale. (3) Payment of …

§ 67.12. Notice of surplus. Notice of any surplus from the sale of a pledge amounting to 50¢ or more shall be mailed to the last known address of the pledgor within 10 days after the date of the sale. It is recommended that pawnbrokers obtain from the post office a ‘‘certificate …

§ 67.13. Reversion. If a surplus remaining from the sale of a pledge is not paid to, or claimed by, the pledgor within one year from the date of sale, the surplus shall revert to the licensee, if he has complied with the provisions of this part.

§ 67.2. Time. (a) Pledges may not be sold prior to the expiration of 90 days after the due date of the loan, except as otherwise provided in subsection (b). (b) The pledgor may authorize the sale of a pledge prior to the expiration of the 90-day period, if such authorization is o…

§ 67.3. Conditions. (a) A pledge shall not be sold at a private sale unless the pledgor has agreed to the minimum amount for which the pledge shall be sold. This price shall be stipulated on the pawn ticket. (b) The private sale price shall be subject to the following conditions:…

§ 7.1. Scope. This chapter implements the act one purpose of which is to assure that every citizen of the Commonwealth who has need for residential mortgage credit is given meaningful information with respect to the cost of that credit at a rate of interest reasonably related to …

§ 7.2. Definitions and rules of construction. Unless the context indicates otherwise, the following definitions and rules of construction apply: Act—The act of January 30, 1974 (P. L. 13, No. 6) (41 P. S. § § 101—605). Actual settlement costs—The term includes the following: (i) …

§ 7.3. Determination of loan yield. (a) The finance charge is amortized over the contract term of the loan. (b) The loan yield is computed as the annual percentage rate is computed in accordance with section 226.5(b),(c) and (d) of Regulation Z, 12 CFR 226, but using the definiti…

§ 7.4. Notice of intention to foreclose mortgage. Before a residential mortgage lender, as defined by the act, may accelerate the maturity of a residential mortgage obligation, as defined by the act; commence a legal action including mortgage foreclosure to recover under the obli…

§ 7.5. Commitments to enter into residential mortgages. Except for F.H.A. and V.A. loans, a mortgage commitment when agreed to by the residential mortgage debtor shall constitute a legally binding obligation on the part of the residential mortgage lender to make a residential mor…

§ 7.8. Prepayment penalty prohibited. (a) Residential mortgage obligations contracted for on or after January 30, 1974 may be prepaid in full without a penalty or other charge before the maturity of the loan obligation. (b) A residential mortgage lender is entitled to receive a f…

§ 7.9. Disclosure requirements—statement of policy. (a) Disclosures required under section 401 of the act (41 P. S. § 401) are those disclosures required by the Truth in Lending Act (15 U.S.C.A. § § 1601—1667e) and the Real Estate Settlement Procedures Act of 1974 (12 U.S.C.A. § …

§ 701.010a. Filing of registration forms. (a) The Department will provide links to all forms and General Instructions on the Department’s web site. (b) Forms filed with the Department must be in the format prescribed by the Department in the General Instructions. (c) All referenc…

§ 701.011. Filing of exemption forms. (a) The Department will provide links to all forms and General Instructions on the Department’s web site. (b) All forms and accompanying documents filed with the Department must be in the format prescribed by the Department in the General Ins…

§ 701.020. Electronic filing. Unless the Department orders otherwise, all documents shall be filed with the Department in the manner prescribed in the accompanying General Instructions. Authority The provisions of this § 701.020 issued under section 202.C of the Department of Ban…

§ 701.030. Fees. Issuers filing registration or exemption forms by electronic means shall include the payment of fees or assessments required under section 602 or 602.1 of the act (70 P.S. § § 1-602 and 1-602.1) by one of the following means: (1) Automated Clearing House transfer…

GENERAL § 81.1. Definitions. The following words and terms, when used in this part, have the following meanings, unless the context clearly indicates otherwise: Act—The Check Casher Licensing Act (63 P. S. § § 2301—2334). Department—The Department of Banking and Securities of the…

INITIAL LICENSE APPLICATION PROCESS § 81.11. Application forms, confidentiality and financial statements. (a) A check casher initial application form will be provided to a prospective applicant by the Department. Upon completion and submission of the application by the applicant,…

§ 81.12. Check cashers in business by April 19, 1998. (a) Submission of application by an existing check casher. For any check casher license application received by the Department from an applicant engaged in the check casher business by April 19, 1998 (existing check casher), t…

§ 81.13. New check cashers not in business by April 19, 1998. (a) Submission of application by a new check casher. For a license application received by the Department prior to January 1, 1999, from a person who is not engaged in the check casher business by April 19, 1998, (new …

§ 81.14. Check casher locations not in existence by April 19, 1998. (a) Submission of applications for new locations. Regardless of whether the check casher applicant is otherwise licensed or conducting check casher business at any location in this Commonwealth by April 19, 1998,…

§ 81.2. Purpose. (a) The act contains license application requirements, limitations on check casher rates, a prohibition on a licensee cashing postdated checks and examination authority of the Department, among other licensing and enforcement provisions. (b) This chapter is neces…

LICENSE RENEWAL APPLICATION PROCESS § 81.31. Renewal. (a) A license issued by the Department shall be renewed on May 1 of each year upon payment of the annual renewal fee by the applicant, filing by the applicant of a completed renewal application and determination by the Departm…

§ 81.32. Additional information from applicants for renewal licenses. The Department may request the filing of additional information to be received by the Department in conjunction with the renewal application. This information will assist the Department in evaluating whether th…

EXAMINATION AND RECORDS § 81.41. Examination of records. Under sections 104(2) and 506 of the act (63 P. S. § § 2304(2) and 2326), the Department has authority to examine the records of a check casher and to prescribe the records that will enable the Department to determine wheth…

POSTING NOTICE OF FEES AND CHARGES § 81.51. Posting notice of fees and charges. Check cashers should post a notice of exact fees and charges, which shall be within the maximum prescribed in the act. The notice should be in plain view and in a location readily apparent to the cons…

RESTRICTIONS ON BUSINESS § 81.61. Prohibition on cashing certain checks. Under section 505(a) of the act (63 P. S. § 2325(a)), a licensee may not cash or advance any money on a postdated check. A written or verbal, express or implied,agreement between the licensee and a customer …

§ 81.62. Report of certain transactions. (a) Under section 505(b) of the act (63 P. S. § 2325(b)), a licensee shall report to the Department each transaction involving a check drawn on a personal account of the maker which is also payable to the maker in accordance with the Feder…

§ 9.1. Definitions. The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise: Commingle—To invest the funds of different accounts of an institution in a common trust or investment fund. IRA account—A tru…

§ 9.2. Institutions without fiduciary and other representative powers. An institution which does not have fiduciary and other representative powers under Chapter 4 of the Banking Code (7 P. S. § § 401—407) may accept IRA accounts if, under the terms of the instruments creating th…

§ 9.3. Institutions with fiduciary and other representative powers. An institution with fiduciary and other representative powers under Chapter 4 of the Banking Code (7 P. S. § § 401—407) may accept IRA accounts. If an IRA account is accepted by a department of the institution ot…

§ 9.4. Rules governing commingling and pooling of IRA accounts. An IRA account may be commingled or pooled only if permitted under § 9.2 or § 9.3 (relating to institutions without fiduciary and other representative powers; and institutions with fiduciary and other representative …

§ 1.1. Definitions. The following words and terms, when used in this part, have the following meanings, unless the context clearly indicates otherwise: Department—The Department of Community and Economic Development. PERC System—A system of formalized lines of communication withi…

§ 1.2. Applicability of general rules. Under 1 Pa. Code § 31.1 (relating to scope of part), 1 Pa. Code Part II (relating to general rules of administrative practice and procedure) is applicable to the activities of and proceedings before the Department. Source The provisions of t…

§ 1.3. Department regional offices. The addresses of the regional field offices of the Department are the following: (1)Regional Director Department of Community and Economic Development 908 State Office Building Broad and Spring Garden Streets Philadelphia, Pennsylvania 19130 (2…

§ 11.1. Purpose, scope and authority. (a) This chapter sets forth the practice and procedure before the Department in adjudicatory proceedings relating to complaints and petitions filed with the Department under section 8211 of the act (relating to petitions for declaratory order…

§ 11.10. Withdrawal of pleadings. (a) A party may withdraw a pleading filed with the office of the Department at any time, with or without cause. The withdrawal shall be effective immediately upon filing notice thereof with the office of the Department. (b) This section supersede…

§ 11.11. Motions. (a) A respondent may file prior to or with his answer a motion that the allegations in, or legal grounds for, the complaint or petition be made more definite and certain. A motion shall point out the defects complained of and details desired. The Department will…

§ 11.12. Hearings. (a) After receipt of a complaint or petition, the Department, with or without motion, may schedule a hearing to hear and determine procedural and substantive matters within the jurisdiction of the Department under the act arising from the proceedings of a local…

§ 11.13. Notice of hearings. (a) Written notice of hearings which are ordered by the Department will be mailed by the Department to all parties at least 7-calendar days prior to the date fixed for the hearing. Notice in writing will be provided to each party of the time, date and…

§ 11.14. Presiding officer. (a) A complaint or petition, upon filing with the Department, will be assigned to a presiding officer who will be appointed by the Secretary for that purpose. (b) The presiding officer will have powers and authority, subject to this chapter and the act…

§ 11.15. Final orders. (a) Upon receipt of the formal records, briefs, if any, and report of the presiding officer, the Secretary will promptly review the materials and issue a final order. (b) The Secretary may accept the report of the presiding officer, or modify, or reverse fi…