N.Y. General Business Law 458-B – Definitions
Current as of: 2023 | Check for updates
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As used in this article:
“Credit services business” does not include any of the following:
Terms Used In N.Y. General Business Law 458-B
- Consumer: means any natural person who is solicited to purchase or who purchases the services of a credit services business. See N.Y. General Business Law 458-B
- 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.
- Credit services business: means any person who sells, provides, or performs, or represents that he can or will sell, provide or perform, a service for the express or implied purpose of improving a consumer's credit record, history, or rating or providing advice or assistance to a consumer with regard to the consumer's credit record history or rating in return for the payment of a fee. See N.Y. General Business Law 458-B
- 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 an individual, corporation, partnership, joint venture, or any business entity. See N.Y. General Business Law 458-B