N.Y. Comp. Codes R. & Regs. tit. 3 § 92.1

Current through Register Vol. 46, No. 43, October 23, 2024

Section 92.1 - Definitions

For purposes of this Part:

(a) The term contract or obligation shall mean a retail instalment contract as defined under subdivision 5 of section 301 of the Personal Property Law, or a retail instalment contract or a retail instalment obligation as defined under subdivisions 6 and 7 of section 401 of the Personal Property Law.

(b) The term credit service charge shall have the meaning assigned to it under subdivision 8 of section 301 of the Personal Property Law or under subdivision 11 of section 401 of the Personal Property Law.

(c) The term holder shall have the meaning assigned to it under subdivision 10 of section 301 of the Personal Property Law or under subdivision 15 of section 401 of the Personal Property Law.

(d) The term rate shall mean the rate of credit service charge on the contract or obligation.

(e) The term retail seller shall have the meaning assigned to it under subdivision 3 of section 301 of the Personal Property Law or subdivision 3 of section 401 of the Personal Property Law.

(f) The term retail seller or holder or the retail seller or the holder shall mean the retail seller, except that the term shall mean a holder other than the retail seller in the case where, by contractual agreement between the retail seller and and such holder, the holder undertakes on behalf of the retail seller to meet the specific requirements imposed by this Part or establishes certain terms and conditions for the contract or obligation.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 92.1