The following words and terms, when used in this chapter, will
have the following meanings, unless the context clearly indicates
otherwise:
(1) Acquisition Charge--A finance charge assessed for
making the loan as authorized under Texas Finance Code, §342.252.
(2) Borrower--The person or persons who sign the loan
agreement.
(3) Collateral--An interest in personal property which
serves to secure the payment or performance of an obligation. See
"Security."
(4) Deferment--An additional period of time beyond
a due date for the borrower to make a payment or payments; also known
as "Extension."
(5) Installment Account Handling Charge--A finance
charge assessed on the loan as authorized under Texas Finance Code, §342.252.
(6) OCCC--The Office of Consumer Credit Commissioner
of the State of Texas.
(7) Prepayment--Any whole or partial payment of an
amount equal to one or more full installments made by the borrower
prior to the date the payment is due.
(8) Security--An interest in personal property which
serves to secure the payment or performance of an obligation. See
"Collateral."
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