§ 9-122. Motor vehicle title loan transactions.

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A secondhand dealer registered under Chapter 538, Part 1, Florida Statutes, may engage in motor vehicle title loan transactions, as that term is used in Chapter 538, Part 1, Florida Statutes, if the following conditions are met:
(a)

The title loan agreement contains the following settlements printed in not less than 14 point type and with the indicated language in uppercase:

YOUR VEHICLE HAS BEEN PLEDGED AS SECURITY FOR THIS LOAN AND IF YOU DO NOT REPAY THIS LOAN IN FULL, INCLUDING THE FINANCE CHARGE, YOUR VEHICLE MAY BE REPOSSESSED WITH NO NOTICE.

(b)

The secondhand dealer must display, in a prominent place in the title loan premises, for customer viewing, a sign no smaller than three (3) feet by five (5) feet with the following message written in uppercase letters no less than two (2) inches high:

IF YOU RECEIVE A TITLE LOAN, YOUR VEHICLE WILL BE PLEDGED AS SECURITY FOR THE LOAN. IF YOU DO NOT REPAY THIS LOAN IN FULL, INCLUDING ALL FINANCE CHARGES, YOUR VEHICLE MAY BE REPOSSESSED WITH NO NOTICE.

(Ord. No. 99-28, § 2, 8-3-99)

                    
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