5 Del. C. § 2261: Notice to borrower.
Where this section sits in the code
- Title 5. Banking
- Other Businesses Under Jurisdiction of State Banking Department
- CHAPTER 22. Licensed Lenders
- Subchapter V. Title Loans
In addition to any other requirement of law, a licensee shall provide to the borrower, within 30 days of the date of the sale of any motor vehicle that is used as security for a title loan, a written explanation of the disposition of the proceeds of that sale. The explanation shall include all of the information required for an explanation under § 9-616 of Title 6, and shall be provided whether or not the sale resulted in a surplus or deficiency with respect to the amount owed by the borrower. The explanation shall include a notice that the sale has satisfied all outstanding and unpaid indebtedness under the title loan.
Collected 2026-09-05T23:02:05Z. Source file · JSON