10 Pa. Code § 63.2 – Computation. | Midpage- (a) Charges shall be computed only on the principal balance due, for the actual time elapsed from the date of the loan to the date of payment.
- (b) On defaulted loans in which the pledges are sold, the charges shall be computed only to the date of sale.
- (c) Licensees may compute for a full month when a fractional part of a month elapses.
- (d) Charges shall not be collected or deducted in advance and shall not be compounded.