28-46-501 Short Title
28-46-502 Definitions
28-46-503 License Required
28-46-504 Title Loan Agreements
28-46-505 Disclosure
28-46-506 Renewal of Title Loan Agreements
28-46-507 Default
28-46-508 Prohibited Actions
28-46-509 Exemption

Terms Used In Idaho Code > Title 28 > Chapter 46 > Part 5 - Title Loan Act

  • Administrator: means the state treasurer or his or her duly authorized agents or employees. See Idaho Code 14-501
  • Appraisal: A determination of property value.
  • Attorney general: means the chief legal officer of this state. See Idaho Code 14-501
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • 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.
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fraud: Intentional deception resulting in injury to another.
  • Holder: means a person, wherever organized or domiciled, who is:
Idaho Code 14-501
  • 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.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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.
  • Owner: means a depositor in the case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this act or his legal representative. See Idaho Code 14-501
  • person: includes a corporation as well as a natural person;
  • Idaho Code 73-114
  • Person: means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, two (2) or more persons having a joint or common interest, or any other legal or commercial entity. See Idaho Code 14-501
  • Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114
  • Personal property: All property that is not real property.
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • 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
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
  • State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See Idaho Code 14-501
  • Title lender: means a regulated lender authorized pursuant to this part to make title loans. See Idaho Code 28-46-502
  • Title loan: means a loan for a consumer purpose that is secured by a nonpurchase money security interest in titled personal property and that is scheduled to be repaid in either a single installment or in multiple installments that are not fully amortized. See Idaho Code 28-46-502
  • Title loan agreement: means a written agreement whereby a title lender agrees to make a title loan to a debtor, and the debtor agrees to give the title lender a security interest in unencumbered titled personal property owned by the debtor. See Idaho Code 28-46-502
  • Titled personal property: means any motor vehicle, the ownership of which is evidenced and delineated by a state issued certificate of title, but does not include a motor home, mobile home or manufactured home. See Idaho Code 28-46-502