Pennsylvania Code › Title 10 - BANKING AND SECURITIES › Part V - Pawnbrokers › Chapter 61 - GENERAL PROVISIONS › Section 61.2 - License applications, public notice, hearings and capital requirements

Current through Register Vol. 54, No. 28, July 13, 2024
(a) Blank forms of
				application and bond will be supplied by the Department upon request. Payment
				of a new license fee is required.
(b) Licenses shall be issued on the basis of
				information set forth in the application for license. Changes in title, place
				of business, office manager, owner, partner or corporate officials occurring
				during a license year shall require prior written approval of the
				Department.
(c) Every initial
				applicant for a license shall post a notice of initial application and hearing
				for at least 30 days beginning with the day the application is accepted as
				filed with the Secretary, in a conspicuous place at the proposed location for
				which the initial applicant has applied for a license, unless another location
				for posting the notice of initial application and hearing is approved by the
				Secretary. The notice of initial application and hearing shall be in the form
				prescribed by the Secretary. The conspicuous place of posting the notice of
				initial application and hearing shall face to the outside of the proposed
				location for which the initial applicant is applying, so that persons observing
				the normal main window or facade of the proposed location may readily see and
				read the notice of initial application and hearing, unless otherwise permitted
				by the Secretary due to the circumstances of the proposed pawnbroker location.
				At the end of at least 30 days continual posting of the notice of initial
				application and hearing, an initial applicant shall deliver to the Department
				an affidavit in a completed form as prescribed by the Department certifying
				that the notice of initial application and hearing has been properly posted for
				the required 30-day time period. A photocopy of the completed notice of the
				initial application and hearing also shall be provided by initial applicant to
				the Department as part of the initial application.
(d) A public hearing shall be held regarding
				any pawnbroker's license application submitted by an initial applicant. The
				public hearing is a fact-gathering mechanism to assist the Department in its
				review of the initial applicant's pawnbroker's license application while
				providing an opportunity for interested residents to testify regarding matters
				relevant to the Secretary's consideration of whether to approve the initial
				applicant's license application for the proposed location.
(1)
General.
(i) A hearing regarding an initial
				applicant's license application may not be held by the Department until after
				the Department has accepted as complete a license application from the initial
				applicant. An initial applicant shall provide the affidavit required in
				subsection (e) certifying to the posting of the notice of initial application
				and hearing for the requisite 30-day time period, and a proof of publication of
				a newspaper notice of hearing.
(ii)
				The separate newspaper notice of hearing shall be published at least once in a
				newspaper of general circulation at least 10 days prior to the hearing date. An
				initial applicant shall cause proof of publication of the newspaper notice of
				hearing to be provided to the Department in a written form issued and executed
				by a representative of the newspaper.
(iii) The hearing shall occur at a date, time
				and place as deemed appropriate in the sole reasonable discretion of the
				Secretary.