Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 286.12-010.Definitions for subtitle

(1) “Affiliate” means any person who directly, or indirectly through one (1) or more intermediaries, controls, is controlled by, or is under common control with another person;

(2) “Applicant” means a person filing an application or renewal application for a license under this subtitle;

(3) “Borrower” means a person who:

(4) “Borrower with a disability” means a borrower who the servicer knows, or reasonably should know, is a person who has a documented disability;

(5) “Borrower working in public service” means a borrower who is employed in a public service job as defined in the Higher Education Act, 20 U.S.C. sec. 1087e(m), as amended, and administrative regulations promulgated thereunder;

(6) “Control” means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise;

(7) “Director” means a person appointed or elected to sit on a board that manages the affairs of a corporation or other organization by electing and exercising control over its officers;

(8) “In this state” means any activity of a person relating to servicing student education loans that originates:

(9) “Licensee” means a person licensed as a student education loan servicer under this subtitle;

(10) “Managing officer” means a natural person responsible for overseeing daily operations of a licensee;

(11) “Military borrower” means a borrower who is:

(12) “Student education loan” means any loan to a borrower to finance postsecondary education or expenses related to postsecondary education;

(13) “Student education loan servicer” or “servicer”:

(14) “Student education loan servicing” or “servicing” means participating in any of the following activities related to a student education loan: