Roentgen.I. Gen. Laws ยง 19-14-step one
Unless of course if you don’t specified, the following terms should have the pursuing the definitions through the sections 14, 14.1, fourteen.dos, 14.3, fourteen.4, 14.six, 14.8, , and of which title:
(1) “Real staff” will suggest a member of staff from a great licensee exactly who really works within the supervision and supervision of one’s licensee.
(2) “Check” setting one evaluate, draft, money buy, personal currency buy, or any other tool on the signal or fee of cash. “See cashing” means taking currency to have inspections.
(3) “Look at casher” function a person otherwise organization whom otherwise you to definitely, to own compensation, activates, in whole or in region, in the industry out-of cashing monitors.
(ii) Searching money or value to have sign otherwise carrying finance incidental to help you transmission in the You or even locations abroad by the any and all setting, also payment means, held worth, cord, facsimile, or digital transfer, priily, or home aim. For example keeping control over digital money otherwise deals when you look at the digital money on the behalf of anybody else.
Section 14Licensed Points
(5) “Deferred-put exchange” function one exchange, like those often called “payday loans,” “payday advances,” or “deferred-presentment loans,” where a cash loan is designed to a consumer inside the replace on user’s personal take a look at or even in exchange towards the owner’s agreement so you can debit the latest user’s deposit account and you can where in actuality the parties consent possibly that the see are not cashed or placed, otherwise that owner’s put membership will not be debited until a specified coming day.
(7) “Deliver” means to submit a check towards the basic person that, inside percentage on the glance at, helps make, otherwise purports to make, an excellent remittance regarding, otherwise facing, see your face quantity of the brand new check, whether or not the deliverer plus charges a fee simultaneously for the face number and you will if the deliverer signs the newest glance at.
(8) “Cost financing contract” mode an agreement in which a covered, otherwise potential covered, promises to shell out so you can an insurance premium finance company extent advanced, or perhaps to become complex, beneath the agreement to help you a keen insurer or to an insurance producer, from inside the percentage from a premium, or superior, to your an insurance coverage bargain, or deals, together with attract and you may a support charge, given that licensed and restricted to which identity.
(9) “Insurance premium monetary institution” form a guy or entity engaged in the firm of developing premium money preparations or obtaining advanced fund agreements regarding almost every other advanced boat loan companies.
(10) (i) “Lender” form any individual who helps make otherwise loans that loan within county for the man or woman’s own fund, whether or not the person is the nominal mortgagee otherwise collector toward device evidencing the mortgage;
(B) A loan application for a financial loan is taken because of the an employee, representative, or member of the financial in this condition;
(iii) The term “lender” will have people engaged in a deal where new people renders or loans financing within condition making use of the continues regarding an advance less than a credit line over which continues the individual possess rule and you can handle and for the cost of which the person are for any reason responsible. Which deal is not a table-financing exchange. A person is deemed to have dominion and control over the brand new proceeds away from an paydayloanservice.org upfront around a credit line familiar with loans financing regardless of whether:
(A) Anyone get, contemporaneously having, or soon adopting the, the latest investment of mortgage, assign or send to your credit line financial that or more finance funded by the continues out-of an upfront to your people within the personal line of credit;