In this part:
(1)"Administrator" means the commissioner of commerce and insurance;
(2)"Affiliate":
(A)With respect to an individual, means:
(i)The spouse of the individual;
(ii)A sibling of the individual or the spouse of a sibling;
(iii)An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse;
(iv)An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or (v) Any other individual occupying the residence of the individual; and (B) With respect to an entity, means:
(i)A person that directly or indirectly controls, is controlled by or is under common control with the entity; (
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In this part: (1) "Administrator" means the commissioner of commerce and insurance; (2) "Affiliate": (A) With respect to an individual, means: (i) The spouse of the individual; (ii) A sibling of the individual or the spouse of a sibling; (iii) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual's spouse; (iv) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or (v) Any other individual occupying the residence of the individual; and (B) With respect to an entity, means: (i) A person that directly or indirectly controls, is controlled by or is under common control with the entity; (ii) An officer of, or an individual performing similar functions with respect to, the entity; (iii) A director of, or an individual performing similar functions with respect to, the entity; (iv) Subject to adjustment of the dollar amount pursuant to § 47-18-5532(f) , a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year or a person that owns more than ten percent (10%) of, or an individual who is employed by or is a director of, a person that receives or received more than twenty-five thousand dollars ($25,000) from the entity in either the current year or the preceding year; (v) An officer or director of, or an individual performing similar functions with respect to, a person described in this subdivision (2)(B); (vi) The spouse of, or an individual occupying the residence of, an individual described in subdivisions (2)(B)(i)-(v); or (vii) An individual who has the relationship specified in subdivision (2)(A)(iv) to an individual or the spouse of an individual described in subdivisions (2)(B)(i)-(v); (3) "Agreement" means an agreement between a provider and an individual for the performance of debt-management services; (4) "Bank" means a financial institution, including a commercial bank, savings bank, savings and loan association, credit union and trust company, engaged in the business of banking, chartered under federal or state law, and regulated by a federal or state banking regulatory authority; (5) "Business address" means the physical location of a business, including the name and number of a street; (6) "Certified counselor" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency; (7) "Certified debt specialist" means an individual certified by a training program or certifying organization, approved by the administrator, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will settle debts for less than the full principal amount of debt owed; (8) "Concessions" means assent to repayment of a debt on terms more favorable to an individual than the terms of the contract between the individual and a creditor; (9) "Day" means calendar day; (10) "Debt-management services" means services as an intermediary between an individual and one (1) or more creditors of the individual for the purpose of obtaining concessions, but does not include: (A) Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this state; (B) Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this state; or (C) Financial-planning services provided in a financial planner-client relationship by a member of a financial-planning profession whose members the administrator, by rule, determines are: (i) Licensed by this state; (ii) Subject to a disciplinary mechanism; (iii) Subject to a code of professional responsibility; and (iv) Subject to a continuing-education requirement; (11) "Entity" means a person other than an individual; (12) "Good faith" means honesty in fact and the observance of reasonable standards of fair dealing; (13) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture or any other legal or commercial entity. The term does not include a public corporation, government or governmental subdivision, agency or instrumentality; (14) "Plan" means a program or strategy in which a provider furnishes debt-management services to an individual and that includes a schedule of payments to be made by or on behalf of the individual and used to pay debts owed by the individual; (15) "Principal amount of the debt" means the amount of a debt at the time of an agreement; (16) "Provider" means a person that provides, offers to provide or agrees to provide debt-management services directly or through others; (17) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; (18) "Settlement fee" means a charge imposed on or paid by an individual in connection with a creditor's assent to accept in full satisfaction of a debt an amount less than the principal amount of the debt; (19) "Sign" means, with present intent to authenticate or adopt a record: (A) To execute or adopt a tangible symbol; or (B) To attach to or logically associate with the record an electronic sound, symbol or process; (20) "State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States; and (21) "Trust account" means an account held by a provider that is: (A) Established in an insured bank; (B) Separate from other accounts of the provider or its designee; (C) Designated as a trust account or other account designated to indicate that the money in the account is not the money of the provider or its designee; and (D) Used to hold money of one (1) or more individuals for disbursement to creditors of the individuals.