A. This chapter does not apply to:

Terms Used In Arizona Laws 6-602

  • Consumer: means an individual who obtains a consumer lender loan for personal, family or household purposes. See Arizona Laws 6-601
  • Consumer lender: means a person that advertises to make or procure, solicits or holds itself out to make or procure, or makes or procures consumer lender loans to consumers in this state. See Arizona Laws 6-601
  • Consumer lender loans: means consumer loans, consumer revolving loans and home equity revolving loans. See Arizona Laws 6-601
  • Consumer loan: means the direct closed end loan of money, whether unsecured or secured by personal or real property, in an amount of $10,000 or less that is subject to a finance charge in which only the principal amount of the loan is considered, and not any finance charges or other fees allowed pursuant to section 6-635, for the purpose of determining whether the consumer loan is $10,000 or less. See Arizona Laws 6-601
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • License: means a license issued under the authority of this chapter to make consumer lender loans in accordance with 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
  • Regularly engaged in the business: means either:

    (a) Advertising to or any other solicitation of a resident of this state that offers a consumer loan and that occurs within this state. See Arizona Laws 6-601

  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215

1. A person who does business under any other law of this state, or any other state while regulated by a state agency of that other state, or of the United States, relating to banks, savings banks, trust companies, savings and loan associations, profit sharing and pension trusts, credit unions, insurance companies or receiverships if the consumer lender loan transactions are regulated by the other law or are under the jurisdiction of a court.

2. A person who is licensed as a pawnbroker pursuant to Title 44, Chapter 11, Article 3 to the extent that the person’s activities are governed by that article.

3. A person who is not regularly engaged in the business of making consumer lender loans.

4. A person who is licensed pursuant to chapter 9 of this title to the extent that the person’s activities are governed by that chapter.

B. The requirements of this chapter do not apply to:

1. Closed end loans of more than $10,000.

2. Advances on open end revolving loans that are not secured by the consumer’s principal residence with an agreed on credit limit of more than $10,000, regardless of the amount of any advances on these revolving loans.

3. Advances on open end revolving loans that are secured by the consumer’s principal residence with an agreed on credit limit of more than $10,000, regardless of the amount of any advances on these revolving loans.

4. Consumer lender loans that are lawfully made to nonresidents of the state in any other state under and in accordance with a regulatory consumer lender law similar in principle to this chapter.

5. Educational loans that are either:

(a) Made, insured or guaranteed pursuant to a program authorized by the United States, this state or any other state.

(b) Made by a nonprofit organization that is exempt from taxation under section 501(c)(3) of the internal revenue code to students who attend postsecondary educational institutions in this state.

C. A consumer loan made pursuant to a consumer lender license is not a secondary motor vehicle finance transaction as defined in section 44-281.