LAC 10:XV.1501. Definitions

Licensee―a person licensed by the commissioner under the provisions of the: 1. Louisiana Check Cashers Act-R.S. 6:1001 et seq.; 2. Louisiana Sale of Checks and Money Transmission Act-R.S. 6:1031 et seq.; 3. Louisiana Consumer Credit Law-R.S. 9:3510 et seq.; 4. Louisiana Credit Repair Services Organizations Act-R.S. 9:3573.1 et seq.; 5. Louisiana Collection Agency Regulation Act-R.S. 9:3576.1 et seq.; 6. Louisiana Deferred Presentment and Small Loan Act-R.S. 9:3578.1 et seq.; and 7. Louisiana Pawnshop Act-R.S. 37:1781 et seq. 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. 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.