1. Licensee―a person licensed by the commissioner under the provisions of the:

   1. 1. Louisiana Check Cashers Act-R.S. 6:1001 et seq.;
   2. 2. Louisiana Sale of Checks and Money Transmission Act-R.S. 6:1031 et seq.;
   3. 3. Louisiana Consumer Credit Law-R.S. 9:3510 et seq.;
   4. 4. Louisiana Credit Repair Services Organizations Act-R.S. 9:3573.1 et seq.;
   5. 5. Louisiana Collection Agency Regulation Act-R.S. 9:3576.1 et seq.;
   6. 6. Louisiana Deferred Presentment and Small Loan Act-R.S. 9:3578.1 et seq.; and
   7. 7. Louisiana Pawnshop Act-R.S. 37:1781 et seq.
2. Loan―a loan means an advance of funds to a Louisiana consumer for personal, family, or household purposes. A loan as defined herein shall not include a loan contracted for under the provisions of the Louisiana Residential Mortgage Lending Act or a mortgage loan which is preempted by federal law.
3. Loan Broker―a person who, for compensation or the expectation of compensation regardless of its source, obtains or offers to obtain a loan from a third party wherever domiciled, if the broker is operating in Louisiana.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:121(B)(1) and 9:3554(B).

Historical Note

HISTORICAL NOTE: Promulgated by the Office of the Governor, Office of Financial Institutions, LR 28:307 (February 2002).