“Arranger” means a provider of funds within the syndication of a financial obligation.
“Branch workplace” means any location in this suggest that is identified in the slightest into the public or clients as a place from which the licensee holds it self down being a dollar lender that is small.
“Commissioner” means the commissioner of banking institutions.
“customer” means a normal one who is the client, lessee, or debtor to who credit is provided in a deal this is certainly mainly for the normal individuals individual, family members, or home purposes.
“Control”, when you look at the context of control over an applicant or licensee, means ownership of, or perhaps the capacity to vote, twenty-five % or higher associated with outstanding voting securities of a licensee or get a grip on person. For the purposes of determining the portion of a job candidate or even a licensee managed by anybody, there will be aggregated aided by the control man or woman’s interest the interest of every other individual managed by the individual, or by any partner, moms and dad, or kid of the individual.
“Control individual” means anyone accountable for a licensee or applicant.
“Default” means a customer’s failure to settle a little buck loan in conformity aided by the terms found in a tiny buck loan contract.
“Department” means the division of business and customer affairs.
“Division” means the unit of financial institutions of this division of business and customer affairs.
“Elder” means somebody who is sixty-two years old or older.
“Finance charges” means the expense of credit or price of borrowing, such as the interest, month-to-month upkeep charges, along with other charges authorized by this chapter.
“Financial organization” means any bank, cost cost cost cost cost savings bank, cost cost savings and loan relationship, monetary solutions financial institution, or credit union conducting business when you look at their state whose accounts are insured because of the Federal Deposit Insurance Corporation, the nationwide Credit Union Share Insurance Fund, or other comparable or successor program of federal insurance coverage. (more…)