Tex.
Fin. Code Section 352.001
Definitions
(1)
“Borrower” means an individual who receives the proceeds of a refund anticipation loan.(2)
“Facilitator” means a person who processes, receives, or accepts for delivery an application for a refund anticipation loan, delivers a check in payment of refund anticipation loan proceeds, or in any other manner acts to allow the making of a refund anticipation loan.(3)
“Lender” means a person who extends credit to a borrower in the form of a refund anticipation loan.(4)
“Refund anticipation loan” means a loan borrowed by a taxpayer based on the taxpayer’s anticipated federal income tax refund.(5)
“Refund anticipation loan fee” means a fee imposed or other consideration required by the facilitator or the lender for a refund anticipation loan. The term does not include a fee usually imposed or other consideration usually required by the facilitator in the ordinary course of business for services not related to the making of loans, including a fee imposed for tax return preparation or for the electronic filing of a tax return.
Source:
Section 352.001 — Definitions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.352.htm#352.001 (accessed Jun. 5, 2024).
