The following words and terms, when used in this chapter, will have the following meanings, unless the context clearly indicates otherwise:

1. (1) Acquisition Charge--A finance charge assessed for making the loan as authorized under Texas Finance Code, §342.252.
2. (2) Borrower--The person or persons who sign the loan agreement.
3. (3) Collateral--An interest in personal property which serves to secure the payment or performance of an obligation. See "Security."
4. (4) Deferment--An additional period of time beyond a due date for the borrower to make a payment or payments; also known as "Extension."
5. (5) Installment Account Handling Charge--A finance charge assessed on the loan as authorized under Texas Finance Code, §342.252.
6. (6) OCCC--The Office of Consumer Credit Commissioner of the State of Texas.
7. (7) Prepayment--Any whole or partial payment of an amount equal to one or more full installments made by the borrower prior to the date the payment is due.
8. (8) Security--An interest in personal property which serves to secure the payment or performance of an obligation. See "Collateral."

Source Note:The provisions of this §90.101 adopted to be effective August 31, 2006, 31 TexReg 6671; amended to be effective November 5, 2015, 40 TexReg 7635.