Pennsylvania Code (Last Updated: April 5, 2016) |
Title 10. BANKING AND SECURITIES |
PART VI. Check Cashers |
Chapter 81. Check Casher LicensingStatement of Policy |
Section 81.61. Prohibition on cashing certain checks
Latest version.
-
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 to delay the processing and presentment of a check, even if the check is not postdated, constitutes a violation of the section 505(a) of the act.