Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 6332 - Requirements(a)Signature.--A seller may not obtain the signature of a buyer on an application for an open-end credit agreement if it contains blank spaces to be filled in after it has been signed.(b)Separate agreement unnecessary.--A buyer does not need to sign a separate account agreement when a new purchase is made under an existing agreement.(c) Heading.--The following heading shall appear at the top of the agreement or directly above the space reserved for the signature of the buyer:(1) "Security Agreement" if the seller retains a security interest in the goods as security for the goods or services purchased.(2) "Lien Contract " if the seller obtains a lien on other goods or nonresidential real estate as security for the goods or services purchased.(3) "Open-End Credit Agreement" if the seller does not obtain security for the goods or services purchased.(d)Entire agreement.--The written agreement shall contain the entire agreement of the parties regarding the costs and terms of payment for the goods and services.Added by P.L. 1081 2013 No. 98, § 4, eff. 11/27/2014.