Section 606 - License bondsA. A bond, in the form prescribed by the department, in the penal sum of five thousand dollars ($5,000), shall accompany every application for license as a sales finance company and for license as a collector-repossessor. Such bond shall be executed by a surety company authorized by the laws of Pennsylvania to transact business within this Commonwealth: Provided, That the bond accompanying an application for license as a sales finance company, filed by a banking institution located within this Commonwealth, may be executed by such banking institution on its own behalf, in lieu of a bond executed by a surety company. The bond shall be executed to the Commonwealth of Pennsylvania and shall be for the use of the Commonwealth and for any person or persons. The condition of the bond shall be that the licensee will comply with and abide by all the provisions of this act, and all the rules and regulations of the department lawfully issued, and that the licensee will pay to the Commonwealth, to the department or to any person or persons, any and all moneys that may become due to the Commonwealth, to the department or to any person or persons from the said licensee under and by virtue of the provisions of this act. If any person shall be aggrieved by the misconduct of a licensee and shall recover judgment against such licensee, such person may, on any execution issued under such judgment, maintain an action upon the bond of the licensee in any court having jurisdiction of the amount claimed, provided the department assents thereto.B. A bond in the form prescribed shall be filed for each place of business conducted by a finance company and for each place of business conducted by a collector-repossessor within the Commonwealth of Pennsylvania.C. A new bond shall accompany every application for renewal license and shall be filed at least fifteen (15) days prior to October first, annually.1947, June 28, P.L. 1110, § 6. Amended 2002, Dec. 9, P.L. 1446, No. 186, § 2, effective in 90 days.