69 Pa. Stat. § 1904.2

Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 1904.2 - Out-of-state buyers
(a) Notwithstanding any other provision of this act, there shall be no limitation on the rate of the service charge imposed in connection with retail installment accounts issued to buyers domiciled outside Pennsylvania by a seller or holder of a retail installment account who is otherwise subject to this section: Provided further, That the rate of such service charge shall be set forth in writing and delivered to the buyer. In determining whether a buyer is domiciled in Pennsylvania, a seller or holder of a retail installment account may conclusively assume that such buyer is domiciled outside Pennsylvania if the seller or holder has not mailed any solicitation to the buyer at a Pennsylvania residential address, has not entered into a retail installment account with the buyer pursuant to a personal meeting at an office of the seller or holder in Pennsylvania and does not mail the buyer monthly billing statements to a Pennsylvania residential address.
(b) The Secretary of Banking shall report annually to the General Assembly on the impact of subsection (a) upon the availability of retail installment accounts in Pennsylvania.
(c) Deleted by 1996, Dec. 20, P.L. 1519, No. 197, § 2.

69 P.S. § 1904.2

1966, Special Sess. No. 1, Oct. 28, P.L. 55, No. 7, Art. IX, § 904.2, added 1988, Feb. 26, P.L. 78, No. 15, § 6, imd. effective. Reenacted and amended 1989, July 11, P.L. 573, No. 57, § 6, imd. effective; 1991, Feb. 21, P.L. 1, No. 1, § 4, imd. effective. Subsec. (c) reenacted and amended 1994, May 27, P.L. 253, No. 39, § 3, imd. effective. Amended 1996, Dec. 20, P.L. 1519, No. 197, § 2, imd. effective.