Terms Used In Arizona Laws > Title 44 > Chapter 1 > Article 3.1 - Model Minor Student Capacity to Borrow Act

• Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
• 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.
• Educational institution: means a university, college, community college, junior college, high school, technical, vocational or professional school, or similar institution, wherever located, approved or accredited for the purposes of this article by the state board of education. See Arizona Laws 44-140
• Educational loan: means a loan or other aid or assistance for the purpose of furthering the obligor's education at an educational institution. See Arizona Laws 44-140
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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: means individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Arizona Laws 44-140
• Writing: includes printing. See Arizona Laws 1-215