§ 2250 Definitions
§ 2251 Deceptive advertising prohibited
§ 2252 Disclosures
§ 2253 Right of rescission
§ 2254 Rollover limit
§ 2255 Workout agreement
§ 2256 Federal Fair Debt Collection Practices Act
§ 2257 Threat of criminal prosecution prohibited
§ 2258 Interest after default or repossession
§ 2259 Possession of motor vehicle after default
§ 2260 Sale of motor vehicle
§ 2261 Notice to borrower

Terms Used In Delaware Code > Title 5 > Chapter 22 > Subchapter V - Title Loans

  • 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.
  • 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.
  • Area of sales responsibility: means the geographical area, agreed to by the new recreational vehicle dealer and the manufacturer in the manufacturer-dealer agreement, within which the new recreational vehicle dealer has the exclusive right to display or sell the manufacturer's new recreational vehicles and new recreational trailers of a particular line-make to the retail public. See Delaware Code Title 21 Sec. 8402
  • Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Business day: means all calendar days except Saturdays, Sundays and legal holidays (as that term is defined in Chapter 5 of Title 1). See Delaware Code Title 5 Sec. 2250
  • Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
  • Commissioner: means the State Bank Commissioner. See Delaware Code Title 5 Sec. 2201
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Conspicuous: has the meaning set forth in § 1-201 of Title 6. See Delaware Code Title 5 Sec. 2250
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • dealership: means any person, corporation, partnership or limited partnership who has sold 5 or more motor vehicles within the 12 months preceding the date of a violation of this chapter. See Delaware Code Title 21 Sec. 6402
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: shall mean the Department of Transportation, Division of Motor Vehicles. See Delaware Code Title 21 Sec. 6301
  • Department: means the Department of Transportation unless otherwise specified. See Delaware Code Title 21 Sec. 7501
  • Devise: To gift property by will.
  • Director: shall mean the Director of the Division of Motor Vehicles or the Director's authorized or delegated representative. See Delaware Code Title 21 Sec. 6301
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Distributor: means a person, firm, corporation, or business entity that purchases new recreational vehicles or new recreational trailers from a manufacturer for resale to new recreational vehicle dealers. See Delaware Code Title 21 Sec. 8402
  • Division: shall mean the Division of Motor Vehicles. See Delaware Code Title 21 Sec. 6301
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • 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.
  • Fair Debt Collection Practices Act: The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to ensure the information's accuracy. It is often used in conjunction with the Fair Credit Reporting Act. Source: OCC
  • Family member: means a spouse, child, grandchild, parent, sibling, niece, or nephew, or the spouse thereof. See Delaware Code Title 21 Sec. 8402
  • Fifth-wheel trailer: means a vehicle, mounted on wheels, designed to provide temporary living quarters for recreational, camping, or travel use. See Delaware Code Title 21 Sec. 8402
  • Folding camping trailer: means a vehicle that is mounted on wheels and constructed with collapsible partial side walls that fold for towing by another vehicle and unfold at the campsite to provide temporary living quarters for recreational, camping, or travel use. See Delaware Code Title 21 Sec. 8402
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Instructor: means any person, whether acting as operator of a commercial driver training school or for any such school for compensation, who teaches, conducts classes of, gives demonstrations to or supervises practice of persons learning to operate or drive motor vehicles or preparing to take an examination for a driver's license or learner's permit, and any person who supervises the work of any other such instructor. See Delaware Code Title 21 Sec. 8301
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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
  • lender: means any person duly licensed or regulated by the Commissioner pursuant to this chapter and, in addition, means any person or class of persons exempt from any or all of the provisions of this chapter in accordance with § 2202(b) of this title, to the extent and for such purposes as determined by the Commissioner in order to effectuate the purposes of this chapter. See Delaware Code Title 5 Sec. 2201
  • Lessee: means any person, or the agent for any person, who has leased for a term of at least 4 months. See Delaware Code Title 21 Sec. 6402
  • Lessor: means any person, or the agent for any person, who has leased 5 or more motor vehicles in the past 12 months. See Delaware Code Title 21 Sec. 6402
  • License: means any license issued by the Department of Transportation for the operation of an automotive recycler. See Delaware Code Title 21 Sec. 7501
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Line-make: means a specific series of new recreational vehicles or new recreational trailers that:

    a. See Delaware Code Title 21 Sec. 8402

  • Manufacturer: means a person, firm, corporation, or business entity that engages in the manufacturing of new recreational vehicles or new recreational trailers. See Delaware Code Title 21 Sec. 8402
  • Manufacturer-dealer agreement: means a written agreement or contract entered into between a manufacturer and a new recreational vehicle dealer that fixes the rights and responsibilities of the parties and pursuant to which the new recreational vehicle dealer sells new recreational vehicles or new recreational trailers. See Delaware Code Title 21 Sec. 8402
  • Mileage: means actual distance that a vehicle has traveled. See Delaware Code Title 21 Sec. 6402
  • Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
  • motor vehicle: as used in this chapter , is defined in § 101(41) of this title, with the exception of motorcycles. See Delaware Code Title 21 Sec. 4802
  • New recreational trailer: means a travel trailer, fifth-wheel trailer, or folding camping trailer which has not been titled. See Delaware Code Title 21 Sec. 8402
  • New recreational vehicle: means a motorhome which has not been titled. See Delaware Code Title 21 Sec. 8402
  • New recreational vehicle dealer: means a person, firm, corporation, or business entity who is engaged in the business of buying, selling, or exchanging new recreational vehicles or new recreational trailers. See Delaware Code Title 21 Sec. 8402
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • 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.
  • Odometer: means an instrument for measuring and recording the actual distance a motor vehicle travels while in operation; but shall not include any auxiliary odometer designed to be reset by the operator of the motor vehicle for the purpose of recording mileage on trips. See Delaware Code Title 21 Sec. 6402
  • 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: means an individual, corporation, partnership or any other business entity or group or combination of individuals however organized. See Delaware Code Title 5 Sec. 2201
  • Person: means an individual, partnership or corporation. See Delaware Code Title 21 Sec. 7501
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • 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
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 1 Sec. 302
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Rollover: means the extension of an outstanding and unpaid indebtedness beyond the originally stated repayment period. See Delaware Code Title 5 Sec. 2250
  • safety glass: as used in this subchapter means glass so treated or combined with other materials as to reduce, in comparison with ordinary sheet glass or plate glass, the likelihood of injury to persons by objects from external sources or by glass when the glass is cracked or broken. See Delaware Code Title 21 Sec. 4312
  • school: means a business enterprise conducted by a person for the education and training of persons, either practically or theoretically, or both, to operate motor vehicles or to prepare an applicant for an examination given by the State for a driver's license or learner's permit and charging a consideration or tuition for such services. See Delaware Code Title 21 Sec. 8301
  • Secure printing process or other secure process: means any process which deters and detects counterfeiting and/or unauthorized reproduction and allows alterations to be visible to the naked eye. See Delaware Code Title 21 Sec. 6402
  • State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supplier: means any person, firm, corporation, or business entity that engages in the manufacturing of new recreational vehicle or new recreational trailer parts, accessories, or components. See Delaware Code Title 21 Sec. 8402
  • Title loan: means a loan made to one or more natural persons by a licensee and secured by the title to a motor vehicle, which loan is not used for the purpose of purchasing the vehicle that is used as security and which loan has an originally stated repayment period of 180 days or less. See Delaware Code Title 5 Sec. 2250
  • Transfer: means to change ownership of a motor vehicle by purchase, gift or any other means. See Delaware Code Title 21 Sec. 6402
  • Transferee: means any person to whom ownership in a motor vehicle is transferred by purchase, gift or other means other than by creation of a security interest, and any person who, as agent, signs an odometer disclosure statement for the transferee. See Delaware Code Title 21 Sec. 6402
  • Transferor: means any person who transfers ownership of a motor vehicle by sales, gift or any means other than by creation of a security interest, and any person who, as agent, signs an odometer disclosure statement for the transferor. See Delaware Code Title 21 Sec. 6402
  • Travel trailer: means a vehicle, mounted on wheels, designed to provide temporary living quarters for recreational, camping, or travel use. See Delaware Code Title 21 Sec. 8402
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Under age: means an age of less than 18 years. See Delaware Code Title 1 Sec. 302
  • United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
  • Vehicle: means motor vehicles, trailers, recreational vehicles, recreational trailers, mobile homes, and any other device, in, upon, or by which any person or property is or may be transported or drawn upon a public highway, excepting devices moved by animal power, human power, electric bicycles, off-highway vehicles, special mobile equipment and farm equipment. See Delaware Code Title 21 Sec. 6301
  • Vehicle: means any vehicle or motor vehicle as defined in Chapter 1 of this title or body or chassis of any vehicle to be dismantled, destroyed, scrapped or resold. See Delaware Code Title 21 Sec. 7501
  • Venue: The geographical location in which a case is tried.
  • Warrantor: means any person, firm, corporation, or business entity, including any manufacturer or supplier that provides a written warranty to the consumer in connection with a new recreational vehicle or new recreational trailer, or parts, accessories, or components thereof. See Delaware Code Title 21 Sec. 8402
  • Wholesale dealer: means a dealer who may sell vehicles only to another dealer or licensed auto auction. See Delaware Code Title 21 Sec. 6301
  • Workout agreement: means an agreement for repayment of the outstanding and unpaid indebtedness on a title loan. See Delaware Code Title 5 Sec. 2250
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302