Terms Used In Kentucky Statutes > Chapter 286 > Subtitle 12 - Student Education Loan Servicing, Licensing, and Protection

• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• Affiliate: means any person who directly, or indirectly through one (1) or more intermediaries, controls, is controlled by, or is under common control with another person. See Kentucky Statutes 286.12-010
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Applicant: means a person filing an application or renewal application for a license under this subtitle. See Kentucky Statutes 286.12-010
• Attorney: means attorney-at-law. See Kentucky Statutes 446.010
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Borrower: means a person who:
  (a) Has received, or agreed to pay, a student education loan. See Kentucky Statutes 286.12-010
• Borrower working in public service: means a borrower who is employed in a public service job as defined in the Higher Education Act, 20 U. See Kentucky Statutes 286.12-010
• Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
  (a) Sending the document or package. See Kentucky Statutes 446.010
• City: includes town. See Kentucky Statutes 446.010
• Commissioner: means the commissioner of the Department of Financial
  Institutions. See Kentucky Statutes 286.1-010
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Control: means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. See Kentucky Statutes 286.12-010
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Financial Institutions. See Kentucky Statutes 286.1-010
• Director: means a person appointed or elected to sit on a board that manages the affairs of a corporation or other organization by electing and exercising control over its officers. See Kentucky Statutes 286.12-010
• Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
• Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Federal: refers to the United States. See Kentucky Statutes 446.010
• Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
• Fraud: Intentional deception resulting in injury to another.
• In this state: means any activity of a person relating to servicing student education loans that originates:
  (a) Inside this state and is directed to persons inside or outside this state. See Kentucky Statutes 286.12-010
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Licensee: means a person licensed as a student education loan servicer under this subtitle. See Kentucky Statutes 286.12-010
• Managing officer: means a natural person responsible for overseeing daily operations of a licensee. See Kentucky Statutes 286.12-010
• Military borrower: means a borrower who is:
  (a) A service member, as defined in the Service Member Civil Relief Act, 50
  U. See Kentucky Statutes 286.12-010
• Oath: A promise to tell the truth.
• Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
• Person: means a natural person, or any type or form of corporation, company, partnership, proprietorship, association, or other legal entity. See Kentucky Statutes 286.1-010
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Service of process: The service of writs or summonses to the appropriate party.
• servicing: means participating in any of the following activities related to a student education loan:
  (a) Performing both of the following:
  1. See Kentucky Statutes 286.12-010
• State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
• Statute: A law passed by a legislature.
• Student education loan: means any loan to a borrower to finance postsecondary education or expenses related to postsecondary education. See Kentucky Statutes 286.12-010
• Subpoena: A command to a witness to appear and give testimony.
• Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Treatment: when used in a criminal justice context, means targeted interventions
  that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• Year: means calendar year. See Kentucky Statutes 446.010