                                 CODE OF VIRGINIA

DEFINITIONS (§ 6.2-2500)

As used in this chapter, unless the context requires a different meaning:
		&#8220;Applicant&#8221; means a customer who applies for a refund anticipation
loan through a facilitator.
		&#8220;Borrower&#8221; means an applicant who receives a refund anticipation
loan through a facilitator.
		&#8220;Customer&#8221; means an individual for whom tax preparation services
are performed.
		&#8220;Facilitator&#8221; means a person who 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. &#8220;Facilitator&#8221; does not include
a bank, thrift, savings association, industrial bank, or credit union, operating
under the laws of the United States or the Commonwealth, an affiliate that is a
servicer for such an entity, or any person who acts solely as an intermediary
and does not deal with an applicant in the making of the refund anticipation
loan.
		&#8220;Refund anticipation loan&#8221; means a loan, whether provided through
a facilitator or by another entity such as a financial institution, in
anticipation of, and whose payment is secured by, a customer&#8217;s federal or
state income tax refund or by both.
		&#8220;Refund anticipation loan fee&#8221; means any fee, charge, or other
consideration imposed by a lender or a facilitator for a refund anticipation
loan. The term does not include any fee, charge, or other consideration usually
imposed by a facilitator in the ordinary course of business for nonloan
services, such as fees for preparing tax returns and fees for the electronic
filing of tax returns.
		&#8220;Refund anticipation loan fee schedule&#8221; means a list or table of
refund anticipation loan fees that (i) includes three or more representative
refund anticipation loan amounts; (ii) lists separately each fee or charge
imposed, as well as a total of all fees imposed, related to the making of a
refund anticipation loan; and (iii) includes, for each representative loan
amount, the estimated annual percentage rate calculated under the guidelines
established by the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.).
		&#8220;Tax return&#8221; means a return, declaration, statement, refund claim,
or other document required to be made or filed in connection with state or
federal income taxes.

HISTORY: 2006, c. 399, § 6.1-474; 2010, c. 794.