PRINTER'S NO. 1237
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
1006
Session of
2015
INTRODUCED BY VANCE, SEPTEMBER 16, 2015
REFERRED TO BANKING AND INSURANCE, SEPTEMBER 16, 2015
AN ACT
Amending Title 12 (Commerce and Trade) of the Pennsylvania
Consolidated Statutes, in motor vehicle sales finance,
further providing for definitions.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The definition of "collector-possessor" in
section 6202 of Title 12 of the Pennsylvania Consolidated
Statutes is amended to read:
ยง 6202. Definitions.
The following words and phrases when used in this chapter
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
* * *
"Collector-repossessor."
(1) A person who, as an independent contractor and not
as a regular employee of an installment seller or a sales
finance company[,]:
(i) collects payments on installment sale contracts
or repossesses motor vehicles that are the subject of
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
installment sale contracts; or
(ii) acts as an intermediary or arranges the
collection of payments of repossession of motor vehicles
that are subject to installment sales contracts.
(2) The term excludes the following:
(i) A duly constituted public official or an
attorney at law acting in an official capacity.
(ii) A licensed seller or licensed sales finance
company making collections or repossessions on
installment sale contracts, if the seller or sales
finance company:
(A) was previously a holder; or
(B) was not a holder but occasionally makes
collections or repossessions for other licensed
sellers or licensed sales finance companies.
* * *
Section 2. This act shall take effect in 60 days.
20150SB1006PN1237 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17