Pennsylvania Statutes Title 63 P.S. Professions and Occupations (State Licensed) § 281-5. License bond

A bond in the penal sum of two thousand ($2,000.00) dollars shall accompany every application for license. The bond shall be executed by a surety company authorized by the laws of Pennsylvania to transact business within this Commonwealth. The Secretary of Banking may, in lieu of such surety company bond, accept a bond executed by the applicant for license if such bond is secured by the deposit with the Secretary of Banking of cashiers checks, treasurers checks or certificates of deposit of a banking institution or readily marketable securities approved by the Secretary of Banking. Such collateral, deposited in lieu of a surety company bond, shall be deposited for safekeeping by the Secretary of Banking in the office of the State Treasurer. The bond shall be renewed and refiled annually not later than October first in each year. The bond shall be executed to the Commonwealth of Pennsylvania. The bond shall be for the use of the Commonwealth and for any person or persons who may have a cause of action against the pawnbroker as a licensee under this act. The condition of the bond shall be that the pawnbroker will comply with and abide by all the provisions of this act and all rules and regulations of the Secretary of Banking lawfully issued under this act, and will pay to the Commonwealth, to the Secretary of Banking, or to any person or persons any and all moneys that may come due to the Commonwealth, to the Secretary of Banking, or to any person or persons from the said pawnbroker under and by virtue of the provisions of this act. A separate bond shall be required for each place of business conducted by a pawnbroker. If any person shall be aggrieved by the misconduct of a pawnbroker, and shall recover judgment against him therefor, such person may on any execution issued under such judgment maintain an action upon the bond of the pawnbroker in any court having jurisdiction of the amount claimed, provided the Secretary of Banking assents thereto.