Terms Used In Arizona Laws > Title 16 > Chapter 7 - Penal Provisions

• Agency: means any business serving the public, which as part of its services accepts money for and on behalf of a licensee. See Arizona Laws 6-701
• Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
• Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
• Branch office: means any office operated solely for the purpose of accepting money and performing other services for a licensee. See Arizona Laws 6-701
• Debt management company: means a corporation, company, firm, partnership, association or society, as well as a natural person, that for compensation engages in the business of receiving money, or evidences thereof, in this state or from a resident of this state as agent of a debtor for the purpose of distributing the same to his creditors in payment or partial payment of his obligations. See Arizona Laws 6-701
• Debtor: means a person from whom monies are being accepted for disbursement to creditors. See Arizona Laws 6-701
• Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
• Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
• Fraud: Intentional deception resulting in injury to another.
• License: means a license issued under this chapter. See Arizona Laws 6-701
• Licensee: means a corporation, company, firm, partnership, association or society, as well as a natural person, licensed by the deputy director to engage in the business of a debt management company pursuant to this chapter. See Arizona Laws 6-701
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Trustee: A person or institution holding and administering property in trust.