Arizona Laws 6-615. Foreign loans; reciprocity
Current as of: 2024 | Check for updates
|
Other versions
If a consumer lender loan subject to this chapter is made at a location outside this state to a consumer who is a resident of this state at the time that the consumer lender loan is made and the annual percentage rate of finance charges and other fees charged, contracted for or received are greater than permitted by this chapter, that consumer lender loan is enforceable in this state only to the extent of the finance charges and other fees permitted by this chapter. This section does not apply to consumer lender loans that are solicited in this state from outside this state and that are subject to this chapter.
Terms Used In Arizona Laws 6-615
- Consumer: means an individual who obtains a consumer lender loan for personal, family or household purposes. See Arizona Laws 6-601
- Consumer lender: means a person that advertises to make or procure, solicits or holds itself out to make or procure, or makes or procures consumer lender loans to consumers in this state. See Arizona Laws 6-601
- Consumer lender loans: means consumer loans, consumer revolving loans and home equity revolving loans. See Arizona Laws 6-601