“Instrument” means a individual check finalized by the customer making payable to an individual susceptible to this chapter. The definition of “instrument” will not consist of a fund that is electronic or any other electronic debit or credit towards the customer’s bank account.
“Licensee” means somebody who is https://signaturetitleloans.com/title-loans-nd/ certified or needed to be certified under this chapter.
“Loan quantity” means the quantity financed, as that term is defined in fact in Lending (legislation Z), name 12 Code of Federal Regulations, chapter X, component 1026, as amended, or supplemented by this chapter.
“Maintenance fee” means a month-to-month charge compensated to a licensee to keep a little buck loan.