Section 63.14. Eight-month renewal

Latest version.

(a) When the due date on an original loan is less than 8 months from the date of the loan, licensees shall renew the loan at the request of the pledgor so that the renewed due date shall be at least 8 months from the date of the original loan.
(b) In order to invoke the provisions of subsection (a), the pledgor shall be granted a renewal request only if he has paid the charges accrued to the date of renewal.
(c) Licensees shall have the option to renew any loan which has been in force for a period of 8 months or more from the date of the original loan.
(d) A new pawn ticket shall be issued to the pledgor on all renewal loans.

Notation

Cross References

This section cited in 10 Pa. Code § 65.1 (relating to form).

                    
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