Title loan lenders and related staff may not do the listed acts, including falsifying records, denying inspections, lending to minors, charging unauthorized fees, operating without a license, or using prohibited ads.
537.013 Prohibited acts.—(1) A title loan lender, or any agent or employee of a title loan lender, shall not:(a) Falsify or fail to make an entry of any material matter in a title loan agreement or any extension of such agreement. (b) Refuse to allow the office to inspect completed title loan agreements, extensions of such agreements, or loan property during the ordinary operating hours of the title loan lender’s business or other times acceptable to both parties. (c) Enter into a title loan agreement with a person under the age of 18 years. (d) Make any agreement requiring or allowing for the personal liability of a borrower or the waiver of any of the provisions of this act. (e) Knowingly enter into a title loan agreement with any person who is under the influence of drugs or alcohol when such condition is visible or apparent, or with any person using a name other than such person’s own name or the registered name of the person’s business. (f) Fail to exercise reasonable care, as defined by commission rule, in the safekeeping of loan property or of titled personal property repossessed pursuant to this act. (g) Fail to return loan property or repossessed titled personal property to a borrower, with any and all of the title loan lender’s liens on the property properly released, upon payment of the full amount due the title loan lender, unless the property has been seized or impounded by an authorized law enforcement agency, taken into custody by a court, or otherwise disposed of by court order. (h) Sell or otherwise charge for any type of insurance in connection with a title loan agreement. (i) Charge or receive any finance charge, interest, or fees which are not authorized pursuant to this act. (j) Act as a title loan lender without an active license issued under this act. (k) Refuse to accept partial payments toward satisfying any obligation owed under a title loan agreement or extension of such agreement. (l) Charge a prepayment penalty. (m) Engage in the business of selling new or used motor vehicles, or parts for motor vehicles. (n) Act as a title loan lender under this act within a place of business in which the licensee solicits or engages in business outside the scope of this act if the office determines that the licensee’s operation of and conduct pertaining to such other business results in an evasion of this act. Upon making such a determination, the office shall order the licensee to cease and desist from such evasion; provided, no licensee shall engage in the pawnbroker business. (o) Violate any provision of the Military Lending Act, 10 U.S.C. s. 987, or the regulations adopted under that act in 32 C.F.R. part 232, in connection with a title loan made under this chapter. (2) Title loan companies may not advertise using the words “interest free loans” or “no finance charges.”