Title 12, COMMERCE AND TRADE

An appeal may be taken from the action of the department in suspending and revoking a license under section 6218 (relating to revocation or suspension of license) or imposing a civil penalty under section 6274 (relating to civil penalty by department) in accordance with the proce…

License fees and fines that are received by the department under this chapter shall be deposited in the State Treasury to the credit of a special fund for the use of the department in administering this and other laws of this Commonwealth placed under its administration.

(a) Department.--The department shall provide a copy of the provisions of this chapter to each licensee in conjunction with the licensee's initial license and all renewal applications. (b) Licensee.-- (1) A licensee shall make the information under subsection (a) available to its…

An action on an installment sale contract shall be commenced in a county where any of the following occurred: (1) The buyer signed the contract. (2) The buyer resides at the commencement of the action. (3) The buyer resided when the contract was entered into.

(a) Consumer discount companies.--The provisions of this chapter do not affect or impair a business conducted lawfully under a license issued under the act of April 8, 1937 (P.L.262, No.66), known as the Consumer Discount Company Act. (b) Other extensions of credit.--The provisio…

(a) Review and investigation.--The department shall review and investigate, as appropriate, any consumer complaints or information obtained through examinations relating to any activities regulated by this chapter, including, but not limited to, those pertaining to charges for se…

(a) License required.--The following persons may engage or continue to engage in this Commonwealth as a principal, employee, agent or broker only as authorized in this chapter and under a license issued by the department: (1) An installment seller. (2) A sales finance company. (3…

(a) General rule.--An initial license application shall be in writing, under oath and in the form prescribed by the department. (b) Contents.--An initial license application shall contain the following: (1) The name under which the business is conducted. (2) The physical street a…

(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…

(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 licen…

(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 sal…

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 inclu…

(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 o…

(a) Grounds.--Upon notice under subsection (b), the department may revoke or suspend a license if it discovers a fact or condition that, had it existed or been discovered at the time of filing of any license application, would have warranted disapproval of the application or if i…

(a) License application.--A separate license application under section 6212 (relating to initial license application) shall be filed for each place of business conducted by or to be established by a licensee within this Commonwealth. (b) Bond.--A bond under section 6213 (relating…

A licensee may permit an individual employed by the licensee to work from a remote location if all of the following requirements are met: (1) The licensed activities are conducted under the supervision of the licensee. (2) The licensee has written policies and procedures for the …

(a) General rule.--An installment sale contract shall: (1) be in writing; (2) contain all the agreements between a buyer and an installment seller relating to the installment sale of the motor vehicle sold; (3) be signed by the buyer and seller; and (4) be complete as to all esse…

An installment sale contract shall contain the following: (1) The full name and address of all the parties to the contract. (2) The date that the buyer signed the contract. (3) A description of the motor vehicle sold, which shall be sufficient for accurate identification. (4) The…

(a) Requirement.--An installment sale contract shall contain the notice under subsection (b), which shall be printed directly above the space provided for the signature of the buyer. (b) Form.-- (1) Except as provided in paragraph (2), the notice shall be in the following form: N…

Costs and charges under sections 6222 (relating to contents) and 6242 (relating to other costs included in amount financed) shall be separately itemized in an installment sale contract as to their nature and amounts.

If an installment seller retains a portion of the charge for a good or service provided by another person, the seller shall disclose that the seller may retain a portion of the charge.

(a) Variable finance charge percentage rate.--Notwithstanding any provision of law to the contrary, the finance charge percentage rate included in an installment sale contract for the sale of a heavy commercial motor vehicle may vary during the term of the contract pursuant to a …

(a) Optional contract provisions.--An installment sale contract for the sale of a manufactured home may: (1) require the buyer to pay real estate taxes that may thereafter be levied upon the manufactured home and furnish the installment seller or holder with proof of payment of r…

An installment sale contract may not contain any of the following: (1) Blank spaces to be filled in after the contract has been signed, except regarding serial numbers or other identifying marks that are not available for description of the motor vehicle at the time of execution …

(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 licens…

(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 fo…

(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 buy…

(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…

(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 char…

(a) General rule.--A buyer may not validly waive through an action, agreement or statement any provision of this chapter intended to protect a buyer of a motor vehicle. (b) Choice of law.--A buyer's waiver of the provisions of this chapter, including any purported waiver effected…

(a) Effect.--The expiration, surrender or revocation of a license issued under this chapter to an installment seller or sales finance company does not impair or affect the obligation under an installment sale contract entered into lawfully or lawfully acquired by the licensee pri…

(a) When obligation unenforceable.--An obligation of the buyer of a motor vehicle under an installment sale contract that was consummated in this Commonwealth is not enforceable in this Commonwealth if: (1) the installment seller was not licensed under this chapter when the selle…

(a) General rule.-- (1) The insurance purchased under this section shall be: (i) Limited to insurance against risk of damage, destruction or theft of the motor vehicle. (ii) Written for the dual protection of the buyer and installment seller or holder to the extent of their respe…

(a) Costs payable by buyer.--An installment seller of a motor vehicle under an installment sale contract may require the buyer to pay the following other costs incurred in the sale of a motor vehicle under the contract: (1) Fees payable to the Commonwealth for filing a lien or en…

(a) General rule.--An installment seller licensed under this chapter may charge, contract for, receive or collect a finance charge under this chapter on an installment sale contract covering the retail sale of a motor vehicle in this Commonwealth. (b) Method of computation.-- (1)…

(a) General rule.-- (1) A holder of an installment sale contract may: (i) extend the scheduled due date or defer the scheduled payment of all or part of an unpaid installment payment; (ii) renew the unpaid time balance of the contract; or (iii) contract for, receive and collect a…

(a) General rule.--A late charge may be collected on the following: (1) An installment payment that is not paid on or before the due date of the payment. (2) A contract subject to this chapter, regardless of the classification of vehicle under section 6243 (relating to finance ch…

(a) Right to prepay unpaid time balance.--Notwithstanding the provisions of an installment sale contract, a buyer may prepay at any time all or part of the unpaid time balance under the contract. (b) Rebate generally.--If the entire time balance is liquidated prior to maturity by…

(a) When repossession may occur.--An installment seller or a holder, who has lawfully acquired a motor vehicle installment sale contract, may retake possession of the motor vehicle if the buyer: (1) is in default in the payment of an amount due under the contract; or (2) has comm…

(a) With legal process.--Repossession of a motor vehicle when effected by legal process shall be made only by a duly constituted public official. (b) Without legal process.--Repossession of a motor vehicle when effected otherwise than by legal process under subsection (a) shall b…

(a) When to commence action.--If repossession and sale of a motor vehicle subject to an installment sale contract or its collateral security is effected by legal process, the holder may commence legal proceedings immediately upon the buyer's default or breach of the contract. (b)…

(a) General rule.--If repossession of a motor vehicle subject to an installment sale contract is effected other than by legal process, the holder shall immediately furnish the buyer with a written notice of repossession. (b) Delivery.--The notice of repossession shall be delivere…

A buyer may reclaim personal property left in the repossessed motor vehicle within 30 days of the mailing of the notice under section 6254 (relating to notice of repossession). If personal property is left in the motor vehicle after the 30-day time period, the holder may dispose …

If repossession of a motor vehicle subject to an installment sale contract is effected other than by legal process, the buyer shall be liable for costs incurred by the holder in retaking, storing and repairing the motor vehicle only if: (1) The default exceeds 15 days at the time…

The repossessor of a motor vehicle shall give notice within 24 hours after the repossession to: (1) the local municipal police department having jurisdiction of the area where the motor vehicle was located at the time of repossession; or (2) the Pennsylvania State Police, if no m…

(a) When reinstatement may occur.--If a motor vehicle subject to an installment sale contract has been repossessed by legal process or otherwise because of default or other breach of contract, the holder may reinstate the contract and return the motor vehicle to the buyer if the …