North Carolina General Statutes 53-246. Definitions
The following definitions apply in this Article:
(1) Applicant. A person who applies for registration as a facilitator of refund anticipation loans.
Terms Used In North Carolina General Statutes 53-246
- 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.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- 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.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
(2) Commission. The State Banking Commission.
(3) Commissioner. The Commissioner of Banks.
(4) Creditor. A person who makes a refund anticipation loan.
(5) Debtor. A person who receives the proceeds of a refund anticipation loan.
(6) Facilitator. A person who individually or in conjunction or cooperation with another person processes, receives, or accepts for delivery an application for a refund anticipation loan or a check in payment of refund anticipation loan proceeds or in any other manner facilitates the making of a refund anticipation loan.
(7) Person. An individual, a firm, a partnership, an association, a corporation, or another entity.
(8) Refund anticipation loan. A loan that the creditor arranges to be repaid directly from the proceeds of the debtor’s income tax refund.
(9) Refund anticipation loan fee. The charges, fees, or other consideration charged or imposed by the creditor or facilitator for the making of a refund anticipation loan. This term does not include any charge, fee, or other consideration usually charged or imposed by the facilitator in the ordinary course of business for nonloan services, such as fees for tax return preparation and fees for electronic filing of tax returns.
(10) Registrant. A person who is registered as a facilitator of refund anticipation loans under this Article. (1989 (Reg. Sess., 1990), c. 881, s. 2.)