(b) Deposits.--Subject to legislative appropriation,
application fees remitted to the PEGASUS Account under section
5(e) shall be deposited into the subaccount controlled by the
secretary or the Secretary of the Commonwealth, as applicable,
based on the receiving official. The money, and any additional
money appropriated by the General Assembly, shall be used only
for the purposes of administering this act, including processing
of sandbox applications and monitoring, examination and
enforcement activities relating to this act. The General
Assembly may appropriate Federal money received by the
Commonwealth under the American Rescue Plan Act of 2021 (Public
Law 117-2, 135 Stat. 4) to the PEGASUS Account.
Section 7. Operation of financial technology sandbox.
(a) Authorization.--Except as otherwise provided under
section 9, a person authorized under section 5(f) to enter into
the financial technology sandbox may make an innovative
financial product or service available to consumers during the
sandbox period.
(b) Limitation.--The secretary or the Secretary of the
Commonwealth may, on a case by case basis, specify the maximum
number of consumers permitted to receive an innovative financial
product or service, after consultation with the person
authorized under section 5(f) to make the product or service
available in the financial technology sandbox.
(c) Written statement.--Before a consumer purchases or
enters into an agreement to receive an innovative financial
product or service through the financial technology sandbox, the
person making the product or service available shall provide to
the customer a written statement of the following:
(1) The name and contact information of the person
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