(a) License required.--The following persons may engage or continue to engage in this Commonwealth as a principal, employee, agent or broker only as authorized in this chapter and under a license issued by the department: (1) An installment seller. (2) A sales finance company. (3) A collector-repossessor. (b) Term.-- (1) Subject to paragraph (2), unless revoked or suspended under section 6218 (relating to revocation or suspension of license) or otherwise surrendered, a license shall be valid for one year. (2) A license shall expire on October 1 annually, after the license is initially approved or renewed. (c) Transfer or assignment.--A license may not be transferred or assigned.
Pennsylvania Legal Code