A licensed seller or sales finance company acting as holder of a motor vehicle installment sale contract who hires, authorizes or permits an unlicensed collector-repossessor, as defined in this chapter, to collect payments on the contract or repossess a motor vehicle sold under the contract within this Commonwealth commits a violation of this chapter and shall, upon conviction, be sentenced at the discretion of the court to the following:
(1) Pay a fine of not more than $2,000 for the first offense.
(2) For each subsequent offense, to either or both of the following:
(i) Pay a fine of not more than $2,000.
(ii) Imprisonment for not more than one year.