10 Pa. Code § 63.21

Current through Register Vol. 55, No. 1, January 4, 2025

Section 63.21 - Minimum requirements

The following shall be the minimum records to be kept by licensees:

(1) A journal, which shall contain a chronological record of all receipts and all disbursements of the business of the licensee.

(2) A general ledger, which shall be of the double entry type, and shall contain appropriate accounts for all of the following:

(i) Assets.

(ii) Liabilities.

(iii) Incomes.

(iv) Expenses.

(v) Capital or net worth.

(3) A loan register, or pledge book, arranged to show all of the following:

(i) Dates of loans in chronological order.

(ii) Pledge numbers in serial order.

(iii) Names of pledgors.

(iv) Descriptions of pledges.

(v) Previous pledge numbers on renewal loans.

(vi) Due dates of loans.

(vii) Amounts of loans.

(4) A record of loan receipts, or redemption book, arranged to show all of the following:

(i) Dates of redemption, renewal or partial payment of charges.

(ii) Pledge numbers.

(iii) Principal amounts paid or liquidated by renewal.

(iv) Charges paid.

(v) New pledge numbers on renewed loans or an appropriate symbol indicating redemption.

(5) A pledge sales book, which shall be arranged to show all of the following:

(i) Dates of sales of pledges.

(ii) Pledge numbers.

(iii) Selling prices of pledges.

(iv) Selling commissions.

(v) Amounts due on principal of loans.

(vi) Accrued charges.

(vii) Other legal charges.

(viii) Sale surplus or loss.

(ix) Names and addresses of purchasers when pledges are disposed of at private sale.

(6) An individual loan record, which may be either embodied in the loan register, if provision is made for showing information as to redemption and sale of pledges, or kept as a separate ledger account. It shall show, with respect to each loan, all of the following information:

(i) All data required to be shown in the loan register, as set forth in paragraph (1).

(ii) Date of redemption, renewal or sale of pledge.

(iii) Charges collected.

(iv) New pledge number on renewed loans, or symbol indicating redemption.

(v) Date of mailing notice of sale, if any.

(vi) Selling price or forfeited pledges.

(vii) Surplus or loss from sale of pledge.

(viii) Date of mailing notice of surplus, if any.

(ix) Date of payment of surplus to pledgor, or date of forfeiture of surplus, properly identified.

10 Pa. Code § 63.21