Washington Code 19.148.020 – Definitions
Current as of: 2023 | Check for updates
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Unless the context requires otherwise, the definitions in this section apply throughout this chapter.
Terms Used In Washington Code 19.148.020
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(1) “Lender” shall mean any person in the business of making a loan.
(2) “Loan” shall mean any loan used to finance the acquisition of a one-to-four family owner-occupied residence located in this state.
(3) “Purchasing servicing agent” is any person who purchases, receives through transfer or assignment, or otherwise acquires the responsibility of the servicing for a loan.
(4) “Person” shall include an individual, firm, association, partnership, business, trust, corporation, or any other legal entity whether resident or nonresident.
[ 1989 c 98 § 2.]