Pennsylvania Code & Bulletin
COMMONWEALTH OF PENNSYLVANIA

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The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 51 Pa.B. 6892 (October 30, 2021).

10 Pa. Code § 42.4. Annual renewal required.

§ 42.4. Annual renewal required.

 (a)  Annually, the Department will mail to each registered loan broker an application for renewal of the loan broker’s registration.

 (b)  On or before December 1 of each year, a loan broker shall return the following to the Department:

   (1)  A completed renewal registration application provided by the Department.

   (2)  Payment of a renewal registration fee of $300.

 (c)  On or before January 15 of each year, the Department will take one of the following actions with regard to renewal applications which it received on or before December 1 of the prior year:

   (1)  Notify the loan broker that the loan broker’s registration is renewed.

   (2)  Under §  42.5 (relating to disapproval of registration), notify the loan broker that the loan broker’s renewal registration is rejected and that the loan broker is no longer registered as a loan broker.

   (3)  Notify the loan broker that the registration application was incomplete and that additional information is required. In this case, the Department has 30 days from receipt of a completed registration application to notify the loan broker under paragraph (1) or (2).

 (d)  A loan broker who fails to return to the Department by December 1 of each year a completed renewal registration application provided by the Department and payment of a renewal registration fee of $300 will be subject to a late fee of $100 upon submission to the Department of a renewal registration application.

 (e)  The renewal registration shall be effective from February 1 or upon the Department’s issuance of written notification to the applicant that the applicant has been registered by the Department as a loan broker, whichever is later, through January 31 of the following year.



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