Pennsylvania Code
Title 52 - PUBLIC UTILITIES
Part II - Philadelphia Parking Authority
Subpart B - Taxicabs
Chapter 1027 - SALE OF RIGHTS
Section 1027.13 - Settlement sheet
Universal Citation: 52 PA Code ยง 1027.13
Current through Register Vol. 54, No. 44, November 2, 2024
(a)
The owner and proposed buyer shall use Form SA-2 "Standard Settlement Sheet" at
any closing on the sale of rights. The SA-2 is available on the Authority's web
site at
(b) The SA-2 must include the information required by the Authority, including the following:
(1) The names and addresses of the owner and
proposed buyer.
(2) The names and
address of the brokers or attorneys used in the transaction.
(3) The name and address of the lender and a
designated contact person employed by the lender, if any.
(4) A copy of all certificates or other
documents authorizing the lender to make commercial loans in this
Commonwealth.
(5) The amount, term
and interest rate of any loan used to purchase the rights.
(6) The medallion numbers.
(7) The certificate numbers.
(8) The total consideration for the rights to
be sold and any payment terms, including loan contingencies and nonmonetary
consideration.
(9) An allocation of
funds expended in the transaction.
(10) The fees and costs associated with the
sale, including those payable to any broker or attorney, or both.
(11) Signatures of the owner and proposed
buyer, or their designated agents, and the brokers.
Disclaimer: These regulations may not be the most recent version. Pennsylvania may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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