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Pennsylvania · Through 2026-08-31 (Statute Update stamp, 12 Pa.C.S.)

12 Pa.C.S. § 6332: Requirements.

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Where this section sits in the code
  1. Title 12 - COMMERCE AND TRADE
  2. PART V CONSUMER CREDIT
  3. CHAPTER 63 GOODS AND SERVICES INSTALLMENT SALES
  4. SUBCHAPTER C OPEN-END CREDIT AGREEMENTS

(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.

Collected 2026-09-02T16:30:58Z. Source file · JSON

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