N.Y. General Business Law § 710: Definitions

§ 710. Definitions. Whenever used in this article:

1. "Consumer" means a natural person.

2. "Creditor" means a person, partnership, corporation, association or

other entity who, in the ordinary course of business, regularly extends

consumer credit. The term creditor includes any agent of a creditor for

collection, processing or other purposes.

3. "Consumer credit" means credit extended to a consumer on an account

pursuant to a plan under which the creditor may permit the customer to

make purchases or obtain loans, from time to time, directly from the

creditor or indirectly by use of a credit card, check, or other device,

as the plan may provide. The term does not include negotiated advances

under an open end real estate mortgage or a letter of credit.

4. "Credit balance" means any money or credit owed to, or held for the

benefit of, a consumer by a creditor on a consumer credit account,

whether resulting from an overpayment or return of merchandise by the

consumer, or otherwise.