§ 783-2. Definitions.

As used in this article, the following terms shall have the meanings indicated:

CONSUMER

Any natural person who, singly or jointly with another consumer, is solicited to apply for, applies for, or receives the proceeds of a RAL or RAC.

CONSUMER AFFAIRS

The Suffolk County Office of Consumer Affairs.

CREDITOR

Any person who makes a RAL or who takes an assignment of a RAL.

DIRECTOR

The Suffolk County Director of Consumer Affairs.

FACILITATOR

A person who individually or in conjunction or cooperation with another person:

A. 

Solicits the execution of, processes, receives, or accepts an application or agreement for a RAL and/or RAC; or

B. 

In any other manner substantially assists in the making of a RAL and/or RAC.

PERSON

An individual, firm, partnership, association, corporation or other business entity.

REFUND ANTICIPATION CHECK (RAC)

A check or other payment mechanism:

A. 

Representing the proceeds of the consumer's tax refund less application fees;

B. 

Which was issued by a depository institution or other person that has or will have received a direct deposit of the consumer's tax refund or tax credits; and

C. 

For which the consumer has paid a fee or other consideration for such payment mechanism.

REFUND ANTICIPATION LOAN (RAL)

A loan that is secured by, and that creditor arranged to be repaid directly or indirectly from, the proceeds of the consumer's income tax refund or tax credits and includes the payment of interest and/or RAL fees by the consumer. A RAL shall also include any sale, assignment, or purchase of a consumer's tax refund at a discount or for a fee, regardless of whether the consumer is required to repay the buyer or assignee if the Internal Revenue Service denies or reduces the consumer's tax refund.

REFUND ANTICIPATION LOAN FEE

The charges, fees, or other consideration charged or imposed directly or indirectly by the tax preparer, or facilitator for the making of, or in connection with, a RAL. This term includes any charge, fee, or other consideration for a deposit account, if the deposit account is used for receipt of the consumer's tax refund to repay the amount owed on the loan. This term does not include any charge, fee, or other consideration usually charged or imposed by the facilitator or tax preparer, in the ordinary course of business, such as fees for tax return preparation and fees for electronic filing of tax returns, if the same fees in the same amount are customarily charged to the facilitator's customers who do not receive RALs or RACs.

TAX PREPARER or PREPARER

A person who for valuable consideration advises or assists or offers to advise or assist in the preparation of income tax returns for another.