§ 53-246. Definitions. - North Carolina Statutes

§53‑246.  Definitions.

The following definitionsapply in this Article:

(1)        Applicant.  A personwho applies for registration as a facilitator of refund anticipation loans.

(2)        Commission.  TheState Banking Commission.

(3)        Commissioner.  TheCommissioner of Banks.

(4)        Creditor.  A personwho makes a refund anticipation loan.

(5)        Debtor.  A personwho receives the proceeds of a refund anticipation loan.

(6)        Facilitator.  Aperson who individually or in conjunction or cooperation with another personprocesses, receives, or accepts for delivery an application for a refundanticipation loan or a check in payment of refund anticipation loan proceeds orin any other manner facilitates the making of a refund anticipation loan.

(7)        Person.  Anindividual, a firm, a partnership, an association, a corporation, or anotherentity.

(8)        Refund anticipationloan.  A loan that the creditor arranges to be repaid directly from theproceeds of the debtor's income tax refund.

(9)        Refund anticipationloan fee.  The charges, fees, or other consideration charged or imposed by thecreditor or facilitator for the making of a refund anticipation loan.  Thisterm does not include any charge, fee, or other consideration usually chargedor imposed by the facilitator in the ordinary course of business for nonloanservices, such as fees for tax return preparation and fees for electronicfiling of tax returns.

(10)      Registrant.  A personwho is registered as a facilitator of refund anticipation loans under thisArticle. (1989 (Reg. Sess., 1990), c. 881, s. 2.)