Connecticut General Statutes 36a-846 – Definitions
As used in this section and sections 36a-847 to 36a-855, inclusive:
Terms Used In Connecticut General Statutes 36a-846
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Licensee: means any person who is licensed or required to be licensed pursuant to the applicable provisions of this title. See Connecticut General Statutes 36a-2
- Loan: includes any line of credit or other extension of credit. See Connecticut General Statutes 36a-2
- Person: means an individual, company, including a company described in subparagraphs (A) and (B) of subdivision (12) of this section, or any other legal entity, including a federal, state or municipal government or agency or any political subdivision thereof. See Connecticut General Statutes 36a-2
- State: means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the trust territory of the Pacific Islands, the Virgin Islands and the Northern Mariana Islands. See Connecticut General Statutes 36a-2
(1) “Advertise” or “advertising” has the same meaning as provided in section 36a-485;
(2) “Branch office” means a location other than the main office at which a licensee or any person on behalf of a licensee acts as a student loan servicer;
(3) “Consumer report” has the same meaning as provided in Section 603(d) of the Fair Credit Reporting Act, 15 USC, 1681a, as amended from time to time;
(4) “Control person” has the same meaning as provided in section 36a-485;
(5) “Cosigner” has the same meaning as provided in 15 USC 1650(a), as amended from time to time;
(6) “Federal student education loan” means any student education loan (A) (i) made pursuant to the William D. Ford Federal Direct Loan Program, 20 USC 1087a, et seq., as amended from time to time, or (ii) purchased by the United States Department of Education pursuant to 20 USC 1087i-1(a), as amended from time to time, and (B) owned by the United States Department of Education;
(7) “Federal student loan servicer” means any student loan servicer responsible for the servicing of a federal student education loan to a student loan borrower pursuant to a contract awarded by the United States Department of Education under 20 USC 1087f, as amended from time to time;
(8) “Main office” has the same meaning as provided in section 36a-485;
(9) “Private student education loan” means any student education loan that is not a federal student education loan;
(10) “Private student education loan servicer” means any student loan servicer responsible for the servicing of a private student education loan to a student loan borrower;
(11) “Student loan borrower” means any individual who resides within this state who has agreed to repay a student education loan;
(12) “Student loan servicer” means any person, wherever located, responsible for the servicing of any student education loan to any student loan borrower;
(13) “Servicing” means (A) receiving any scheduled periodic payments from a student loan borrower pursuant to the terms of a student education loan; (B) applying the payments of principal and interest and such other payments with respect to the amounts received from a student loan borrower, as may be required pursuant to the terms of a student education loan; (C) maintaining account records for and communicating with the student loan borrower concerning the student education loan during the period when no scheduled periodic payments are required; (D) interacting with a student loan borrower for purposes of facilitating the servicing of a student education loan, including, but not limited to, assisting a student loan borrower to prevent such borrower from defaulting on obligations arising from the student education loan; or (E) performing other administrative services with respect to a student education loan;
(14) “Student education loan” means any loan primarily for personal use to finance education or other school-related expenses; and
(15) “Unique identifier” has the same meaning as provided in section 36a-485.