Pennsylvania § 5705 - Qualified financial program.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 5705 — Qualified financial program., with citation guidance and answers to common questions.
§ 5705. Qualified financial program.
A qualified financial program offered under section 5703(a)(2) (relating to savings promotion program) must include programs to encourage an eligible individual to do at least one of the following:
(1) Deposit or transfer money into a qualified account on a recurring or automatic basis.
(2) Refinance or consolidate existing debt to obtain a lower interest rate.
(3) Pay off or reduce outstanding balances to lower the eligible individual's total debt ratio or revolving debt ratio.
(4) Prepare a budget or a debt-reduction plan.
(5) Attend financial literacy seminars or counseling sessions sponsored by the eligible financial institution that are offered free of charge.
(6) Use free online financial education, budgeting or debt-reduction tools.
Cross References. Section 5705 is referred to in section 5702 of this title.
Frequently Asked Questions About Pennsylvania § 5705
What does Pennsylvania Consolidated Statutes § 5705 cover?
Section 5705 ("Qualified financial program.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 5705?
A common citation format is "Pennsylvania Consolidated Statutes § 5705" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 5705 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.