Arizona Laws 6-639. Loans from theft or fraud; consumer not responsible; correction of credit information
Current as of: 2024 | Check for updates
|
Other versions
A licensee may not hold a person responsible for any loan amount that is incurred as a result of a violation of section 13-2008, 13-2009, 13-2010 or 13-2310. Within thirty days after a licensee is aware that a loan is a result of a violation of section 13-2008, 13-2009, 13-2010 or 13-2310, the licensee shall immediately correct any derogatory credit information that is reported to a consumer reporting agency as defined in section 44-1691 and that is the result of the violation.
Terms Used In Arizona Laws 6-639
- Consumer: means an individual who obtains a consumer lender loan for personal, family or household purposes. See Arizona Laws 6-601
- Licensee: means a person licensed pursuant to this chapter. See Arizona Laws 6-601
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215