On purposes of look at cashing, site visitors inspections or foreign denomination devices will never be considered monitors

On purposes of look at cashing, site visitors inspections or foreign denomination devices will never be considered monitors

On purposes of look at cashing, site visitors inspections or foreign denomination devices will never be considered monitors

R.We. Gen. Guidelines § step 19-14-1

Unless otherwise specified, the next terms and conditions will have the following the definitions throughout chapters fourteen, 14.step one, 14.2, fourteen.step three, 14.4, 14.6, fourteen.8, , and of this title:

(1) « Real staff » shall indicate a member of staff regarding a good licensee which functions under the supervision and you may oversight of your own licensee.

(2) « Check » function any take a look at, draft, currency order, personal currency buy, or other appliance on the indication otherwise fee of money. « Consider cashing » means getting money getting checks.

(3) « Look at casher » means one or organization which otherwise you to definitely, to have compensation, engages, entirely or perhaps in area, in the industry from cashing checks.

(ii) Finding money or value getting signal otherwise carrying finance incidental to help you indication when you look at the You or even places overseas of the every setting, plus payment tool, stored really worth, cable, fax, otherwise digital transfer, priily, or home objectives. This may involve maintaining control of virtual money or transactions from inside the virtual currency for other people.

Chapter 14Licensed Items

(5) « Deferred-deposit purchase » setting people purchase, such as those often called « cash advance, » « payday cash, » otherwise « deferred-presentment fund, » where a cash loan was designed to a customer in replace into user’s private look at or even in exchange towards user’s agreement to debit this new owner’s put account and you will where parties concur often that look at may not be cashed or deposited, or your user’s put membership may not be debited up until a selected future date.

(7) « Deliver » method for send a check on the first person that, in the payment to the glance at, helps make, or purports while making, an excellent remittance regarding, or facing, your face level of the brand new consider, perhaps the deliverer also charge a fee simultaneously to your deal with matter and you may whether the deliverer cues the have a look at.

(8) « Advanced finance agreement » means a binding agreement wherein an insured, or prospective insured, intends to pay to an insurance coverage premium monetary institution the quantity advanced, or perhaps to become advanced, under the agreement to help you an enthusiastic insurer or perhaps to an insurance coverage producer, inside payment off a premium, or advanced, toward an insurance coverage package, or deals, including notice and you can a service costs, as licensed and you may restricted to so it term.

(9) « Premium monetary institution » function a person otherwise organization involved with the business of fabricating advanced loans agreements or getting advanced money plans out of other insurance premium boat finance companies.

(10) (i) « Lender » means anyone which makes otherwise financing that loan contained in this state to your person’s individual finance, regardless of whether the person ‘s the moderate mortgagee or collector on the tool evidencing the loan;

(B) An application for a financial loan is drawn from the a member of staff, agent, otherwise representative of your bank within this state;

(iii) The word « lender » should have individuals involved with a purchase wherein new individual helps make or fund financing within condition making use of the continues of an advance around a line of credit over hence proceeds the person keeps dominion and you may control and also for the payment where anyone are unconditionally accountable. That it deal isn’t a desk-money purchase. A person is considered having dominion and you can control of the latest continues off a progress lower than a line of credit familiar with finance that loan whether or not:

(A) The individual get, contemporaneously with, otherwise soon pursuing the, new resource of the financing, designate or deliver with the credit line lender you to definitely or a lot more finance financed of the continues out-of an advance on person within the credit line;

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