(A) No person may lend the collateral transactions without first obtaining a licence from the [government division of financial institutions or other appropriate regulatory service]. A separate license is required for each site from which these operations are carried out. The consignment agreement must contain information relating to the issue of deposit (marks, patents), the amount and duration of the commitment guaranteed by the collateral. 4. Information provided by lenders of securities seizures in accordance with this subsection is confidential and may not be disclosed or distributed by the agent outside the department, unless the agent is authorized to disclose confidential information to a local, state or federal authority, as the Commissioner deems appropriate. Section 11. “Right to cash in”, unless otherwise stated in this Act, the pledgeee has the right, upon presentation of proper identification, to obtain the performance of the personal property and/or certificate of title described in it, by meeting all outstanding obligations under the pledge agreement and this law. (E) If the assignor loses the ownership agreement, the security agreement or other evidence relating to the transaction, the assignor does not lose the right to withdraw the assets in pledges, but may, immediately before the expiry of the cashing date, make an affidavit for that loss and describe the pirated assets which, in all respects, are lost evidence of the pledge and are replaced. (A) After the expiry of a title account contract and the final extension of the contract, if the security contract has not been fully paid: the pledger may declare a late payment; in this case, the guarantor of the pledge sends the pledgeor a notification to the pledge, which is reported in the pledge`s file, and tells the guarantor that the guarantor has ten (10) days from the date of the notification of non-healing. It is an agreement that helps to ensure certain obligations of the rights holder, for example. B the repayment of the loan. (G) Anyone who is aggrieved by the conduct of a title giver under this Act in the context of the regulated activities of the title giver may file a written complaint with the agent who can investigate the complaint. In case of car seizure, the object of safety is a vehicle (car, motorcycle, special machines, boats, etc.).
Under the terms of the contract, the mortgaged vehicle may remain in use of the Mortgagor and be returned to the creditor for the duration of the credit contract. (12) require a funder to provide additional guarantees as a precondition for reaching an agreement on the guarantee of title; (A) A security holder may obtain and receive an effective interest rate, as the parties agree in writing. (1) the application for bankruptcy or reorganization by the securityholder; (6) the incompetence or implausibility demonstrated to act as a holder of a title; B) Any loan granted without first obtaining a licence is void, the person who made the loan losing the right to recover all funds, including capital, interest and other fees paid by the pawnbroker in connection with the property deposit contract.