§ 6-601 Definitions
§ 6-602 Exemptions
§ 6-603 License; contents of application; fees; nontransferability
§ 6-604 Issuance of license; license year; renewal; expiration; requirements
§ 6-605 Denial of renewal; suspension; revocation
§ 6-606 Business limited to licensed locations; restrictions
§ 6-607 Books; accounts; records; access
§ 6-608 Annual report of licensee; civil penalty for failure to file
§ 6-609 Reporting rates; change in rates; quarterly report of deputy director
§ 6-610 Effect of revocation, suspension or surrender on preexisting contract; impairment of contracts
§ 6-611 Prohibited acts
§ 6-612 Rules
§ 6-613 Restrictions; voidable loans
§ 6-614 Noncompliance
§ 6-615 Foreign loans; reciprocity

Terms Used In Arizona Laws > Title 6 > Chapter 5 > Article 1 - General Provisions

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amount financed: means the amount of credit extended to a consumer on a consumer loan determined in accordance with the truth in lending act. See Arizona Laws 6-601
  • Annual percentage rate: means the measure of the cost of credit, expressed as a yearly rate, that relates the amount and timing of value received by the consumer to the amount and timing of payments made, determined in accordance with the truth in lending act. See Arizona Laws 6-601
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Ballot: means a paper ballot on which votes are recorded. See Arizona Laws 16-444
  • Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
  • Computer program: includes all programs and documentation adequate to process the ballots at an equivalent counting center. See Arizona Laws 16-444
  • 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
  • Consumer revolving loan: means an open end revolving loan that is established pursuant to an agreement with an agreed on credit limit that does not exceed $10,000, that the consumer may pay in full at any time but has the privilege of paying in installments and that contemplates or provides that advances may be obtained from time to time by the consumer, through checks, drafts, items, credit access devices, orders for the payment of money, evidences of debt or similar means, whether or not negotiable. See Arizona Laws 6-601
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Counting center: means one or more locations selected by the board of supervisors for the automatic counting of ballots. See Arizona Laws 16-444
  • Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
  • Dependent: A person dependent for support upon another.
  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Electronic voting system: means a system in which votes are recorded on a paper ballot by means of marking, and such votes are subsequently counted and tabulated by vote tabulating equipment at one or more counting centers. See Arizona Laws 16-444
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Financial institution: means banks, trust companies, savings and loan associations, credit unions, consumer lenders, international banking facilities and financial institution holding companies under the jurisdiction of the department. See Arizona Laws 6-101
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Home equity revolving loan: means an open end revolving loan that is made pursuant to an agreement with an agreed on credit limit that is not more than $10,000, that is secured by the consumer's principal residence and that provides that advances may be obtained from time to time by the consumer through checks, drafts, items, credit access devices, orders for the payment of money, evidences of debt or similar means, whether or not negotiable. See Arizona Laws 6-601
  • including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
  • Instructions and procedures manual: means the manual prepared for use as a guide for the conduct of elections by an approved electronic voting system, including, but not limited to, detailed instructions for the performance of each task relating to the collection of ballots and the counting of votes in a manner that will provide maximum security, efficiency and accuracy. See Arizona Laws 16-444
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • 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
  • Licensee: means a person licensed pursuant to this chapter. See Arizona Laws 6-601
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minor: means a person under eighteen years of age. See Arizona Laws 1-215
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: includes an affirmation or declaration. See Arizona Laws 1-215
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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.
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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

  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Statute: A law passed by a legislature.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Truth in lending act: means title I of the consumer credit protection act (15 United States Code §§ 1601 through 1666j), as amended, and the regulations promulgated under that act (Title 12 of the Code of Federal Regulations, Part 226), as amended. See Arizona Laws 6-601
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
  • Vote tabulating equipment: includes apparatus necessary to automatically examine and count votes as designated on ballots and tabulate the results. See Arizona Laws 16-444
  • Voting device: means an apparatus that the voter uses to record the voter's votes by marking a paper ballot, which votes are subsequently counted by electronic tabulating equipment. See Arizona Laws 16-444
  • Writing: includes printing. See Arizona Laws 1-215