Current through Register Vol. 54, No. 49, December 7, 2024
Section 30.13 - Notices of lien(a) A lender or creditor who accepts a medallion as security shall file an original and two copies of a Notice of Lien with the Secretary of the Commission, Post Office Box 3265, Harrisburg, Pennsylvania 17105-3265, within 30 days of the date of the loan transaction, except that the 30-day period does not apply to a loan transaction completed prior to April 6, 1991. The Notice of Lien shall be signed by the debtor and contain the names of the debtor and the lender or creditor, an address of the lender or creditor from which information concerning the lien may be obtained, a mailing address of the debtor and the medallion number of the medallion which is being used as collateral.(b) The filing of a Notice of Lien with the Commission does not relieve a lender or creditor of filing its lien, for the purpose of perfection, in accordance with 13 Pa.C.S. Chapter 94 (relating to filing).(c) If the lender or creditor files a Notice of Lien with the Commission within 30 days of the date of the loan transaction, the date of its compliance with Commission regulations has no effect on a determination as to priority of liens, which is governed by 13 Pa.C.S. Chapter 93 (relating to rights of third parties; perfected and unperfected security interests; rules of priority).(d) If the lender or creditor fails to file a Notice of Lien with the Commission within 30 days of the date of the loan transaction, the lien is void by operation of law.