As used in this chapter, unless the context requires a different meaning: “Affiliate” means a person related to a licensee by common ownership or control, or any employee or agent of a licensee. “Annual percentage rate” has the same meaning as in the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.) and its implementing regulations, as they may be amended from time to time. All fees and charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including interest and the monthly maintenance fees authorized under § 6.2-2216, shall be included in the computation of the annual percentage rate. “Bond” includes any form of financial instrument that provides security equivalent to that provided by a bond, such as an irrevocable letter of credit, if its use in lieu of a bond is authorized pursuant to regulations adopted by the Commission. “Interest” means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, and renewal charges, and any ancillary product sold in connection with a loan, but does not include the monthly maintenance fees, deposit item return fees, late charges, or reasonable costs of repossession and sale authorized under § 6.2-2216. “Licensee” means a person to whom a license has been issued under this chapter. “Loan amount” means the principal amount of a loan exclusive of fees or charges. “Motor vehicle” means an automobile, motorcycle, mobile home, truck, van, or other vehicle operated on public highways and streets. “Motor vehicle title loan” or “title loan” means a loan secured by a non-purchase money security interest in a motor vehicle. “Motor vehicle title loan agreement” or “loan agreement” means a written document that sets out the terms and conditions under which a licensee agrees to make a motor vehicle title loan to a borrower, and the borrower agrees to give to the licensee a security interest in a motor vehicle owned by the borrower to secure repayment of the motor vehicle title loan and performance of the other obligations under the loan agreement. “Person” means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, or other legal or commercial entity. “Principal” means any person who, directly or indirectly, owns or controls (i) 10 percent or more of the outstanding stock of a stock corporation or (ii) a 10 percent or greater interest in any other type of entity.