KRS 367.600: Definitions.

As used in KRS 367.610:

(1) "Person" means an individual, corporation, or any other business organization.

(2) "Consumer" means a natural person who seeks or acquires goods or services for

personal, family, or household use.

(3) "Creditor" means a person who, in the ordinary course of business, lends purchase

money or finances the sale of goods or services to consumers on a deferred payment

basis, provided such person is not acting, for the purposes of a particular

transaction, in the capacity of a credit card issuer.

(4) "Purchase money loan" means a cash advance which is received by a consumer in

return for a finance charge, which is applied, in whole or substantial part, to a

purchase of goods or services from a seller who:

(a) Refers consumers to the creditor; or

(b) Is affiliat ed with the creditor by common control, contract, or business

arrangement.

(5) "Consumer credit contract" means any instrument which evidences or embodies a

debt arising from a "purchase money loan" transaction or in which credit is

extended by a seller or lessor in connection with a sale or lease to a consumer.