“Instrument” means a individual check finalized by the customer making payable to an individual susceptible to this chapter. The definition of “instrument” will not consist of a fund that is electronic or any other electronic debit or credit towards the customer’s bank account.
“Licensee” means somebody who is certified or needed to be certified under this chapter.
“Loan quantity” means the quantity financed, as that term is defined in fact in Lending (legislation Z), name 12 Code of Federal Regulations, chapter X, component 1026, as amended, or supplemented by this chapter.
“Maintenance fee” means a month-to-month charge compensated to a licensee to keep a little buck loan.
“NMLS” means a certification system developed and maintained by the Conference of State Bank Supervisors while the United states Association of Residential Mortgage Regulators for their state certification and enrollment of state-licensed loan originators along with other monetary solutions providers, or any system supplied by the customer Financial Protection Bureau.
“Person” means someone, sole proprietorship, partnership, company, restricted liability business, restricted obligation partnership, or other association of people, but arranged.