Pennsylvania Code (Last Updated: April 5, 2016) |
Title 10. BANKING AND SECURITIES |
PART V. Pawnbrokers |
Chapter 63. Charges, Payment and Records |
Section 63.4. Limitation on charges
Latest version.
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(a) Charges on a loan shall not be allowed to accrue after the expiration of a 12-month period from the due date of such a loan, for the purposes of renewal or redemption of the pledge after the expiration of the 12-month period.
(b) When a pledge is sold for default after the expiration of 6 months from the due date, charges shall be limited to the amount of charges accrued within such 6-month period after the due date for the purpose of computing surplus due the pledgor.