SEC. 50-145. DEFINITIONS.
In this article:
(1) CERTIFICATE OF REGISTRATION means a certificate of registration issued by the director under this article to the owner or operator of a credit services organization or credit access business.
(2) CONSUMER means an individual who is solicited to purchase or who purchases or seeks the services of a credit services organization or credit access business.
(3) CREDIT ACCESS BUSINESS has the meaning given that term in Section 393.601 of the Texas Finance Code, as amended.
(4) CREDIT ACCESS BUSINESS FEES mean the fees charged by a credit access business pursuant to Section 393.602 of the Texas Finance Code, as amended.
(5) CREDIT SERVICES ORGANIZATION has the meaning given that term in Section 393.001 of the Texas Finance Code, as amended.
(6) DEFERRED PRESENTMENT TRANSACTION has the meaning given that term in Section 393.601 of the Texas Finance Code, as amended.
(7) DIRECTOR means the director of the department designated by the city manager to enforce and administer this article and includes any representatives, agents, or department employees designated by the director.
(8) EXTENSION OF CONSUMER CREDIT has the meaning given that term in Section 393.001 of the Texas Finance Code, as amended.
(9) EXTENSION OF CONSUMER CREDIT TRANSACTION means the entirety of the agreements made by a consumer to obtain an extension of consumer credit, and includes any loan agreement between the lender and the consumer, and any fee agreement between the credit services organization or credit access business.
(10) MOTOR VEHICLE TITLE LOAN has the meaning given that term in Section 393.601 of the Texas Finance Code, as amended.
(11) OWNER means any person who directly or indirectly owns a credit services organization or a credit access business. For publicly traded companies, the term means any person who directly or indirectly owns or controls 10 percent or more of the outstanding shares of stock in the credit services organization or credit access business.
(12) PERSON means any individual, corporation, organization, partnership, association, financial institution, or any other legal entity.
(13) REGISTRANT means a person issued a certificate of registration for a credit services organization or a credit access business under this article and includes all owners and operators of the credit access business identified in the registration application filed under this article.
(14) STATE LICENSE means a license to operate a credit access business issued by the Texas Consumer Credit Commissioner under Chapter 393, Subchapter G of the Texas Finance Code, as amended.
(15) VALUABLE CONSIDERATION means the consideration described in Section 393.001(3) of the Texas Finance Code, as amended. Valuable consideration includes an immediate payment and any future payments in exchange for an extension of consumer credit as described in Section 393.001(3)(B) of the Texas Finance Code, as amended, or advice or assistance with regard to an extension of consumer credit as described in Section 393.001(3)(B) of the Texas Finance Code, as amended. (Ord. Nos. 28287; 31747)
