In this article, unless the context otherwise requires:
(a)“Adviser,” when used with respect to a licensee, means any person who regularly provides legal, accounting, or management services or advice to such licensee.
(b)“Associate,” when used with respect to a licensee, means:
(1)Any principal shareholder, director, officer, manager, agent, or adviser of such licensee;
(2)Any director, officer, partner, general
manager, agent, employer, or employee of any person referred to in paragraph (1) of this subdivision;
(3)Any person who controls, is controlled by, or is under common control with, any person referred to in paragraph (1) of this subdivision, directly or indirectly through one or more intermediaries;
(4)Any close relative of any person referred to in paragraph (1) of this sub
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In this article, unless the context otherwise requires:
(a)
“Adviser,” when used with respect to a licensee, means any person who regularly provides legal, accounting, or management services or advice to such licensee.
(b)
“Associate,” when used with respect to a licensee, means:
(1)
Any principal shareholder, director, officer, manager, agent, or adviser of such licensee;
(2)
Any director, officer, partner, general
manager, agent, employer, or employee of any person referred to in paragraph (1) of this subdivision;
(3)
Any person who controls, is controlled by, or is under common control with, any person referred to in paragraph (1) of this subdivision, directly or indirectly through one or more intermediaries;
(4)
Any close relative of any person referred to in paragraph (1) of this subdivision;
(5)
Any person of which any person referred to in paragraphs (1) to (4), inclusive, of this subdivision is a director or officer; or
(6)
Any person in which any person referred to in paragraphs (1) to (4), inclusive, of this subdivision or any combination of such persons acting in concert owns or controls, directly or indirectly, a 10 percent or greater equity
interest.
(7)
For purposes of this subdivision, any person who is in any of the relationships referred to in paragraphs (1) to (6), inclusive, of this subdivision within six months before or after a licensee provides financing assistance shall be deemed to be in such relationship as of the date when such licensee provides such financing assistance.
(8)
For purposes of this subdivision, in case a licensee, in order to protect its interests, designates any person to serve as a director of, officer of, or in any capacity in the management of, a business firm to which such licensee provides financing assistance, such person shall not, on that account, be deemed to have any relationship with such business firm; provided, however, that this paragraph shall not apply in any case where the person has, directly or indirectly, any other financial interest in the business firm or where the
person, at any time before the licensee provides the financing assistance, served as a director of, officer of, or in any other capacity in the management of, the business firm for a period of 30 days or more.
(c)
“Close relative” means ancestor, lineal descendant, brother or sister and lineal descendants of either, spouse, father-in-law, mother-in-law, son-in-law, brother-in-law, daughter-in-law, or sister-in-law.
(d)
“Closing services” means services performed in connection with the providing of financing assistance. “Closing services” includes (but is not limited to) appraising property and preparing credit reports. “Closing services” does not include any services performed after the providing of financing assistance.
(e)
“Short-term financing assistance” means any financing assistance with a term of not more than
five years.