D.C. Mun. Regs. tit. 26, r. 26-C3099
For the purpose of this chapter, the following terms have the meaning ascribed:
Act - The Department of Securities Regulation Establishment Act of 1996, effective May 21, 1997 (D.C. Law 11-268; D.C. Official Code §§ 31-101et seq.), as amended by the Student Loan Ombudsman Establishment and Servicing Regulation Amendment Act of 2016, effective February 18, 2017 (D.C. Law 21-214; D.C. Official Code §§ 31-106.01 -.03).
Applicant - a person or entity filing an initial or renewal application for licensure under this chapter.
Application - an initial or renewal application for licensure under this chapter processed as required by the Commissioner, through the Department, the NMLS, or any other third-party processor prescribed by the Commissioner.
Branch - an office or location of a student loan servicer that is separate and distinct from the student loan servicer's principal office and from which it operates as a student loan servicer.
Commissioner - the Commissioner of the Department of Insurance, Securities and Banking.
Department - the Department of Insurance, Securities and Banking.
Licensee - any person or entity duly licensed by the Commissioner pursuant to this chapter.
Material - including the term "materially", means relevant, significant or important.
Owner of a controlling interest - any person or entity (1) that, directly or indirectly, has the right to vote ten percent (10%) or more of a class of a voting security or has the power to sell or direct the sale of ten percent (10%) or more or a class of voting securities (in the case of a partnership, a person or entity that has the right to receive upon dissolution or has contributed ten percent (10%) or more of the capital); or (2) who, regardless of title, directly or indirectly, exercises control over, or has the power to direct, the management or policies of an applicant or licensee. This includes members of the board of directors (including non-employee directors), general partners, executive officers and individuals occupying similar positions.
Student Education Loan - a loan obtained for personal use to finance education or other school-related expenses.
Student Loan Borrower - a resident of the District of Columbia who has received or agreed to pay a student education loan, or a person who shares legal responsibility with such a resident for the repayment of a student education loan.
Student Loan Servicer - a person or entity, whether located within or outside the District, responsible for the servicing of a District student education loan of a student loan borrower.
Nationwide Multistate Licensing System and Registry ("NMLS") - the licensing system developed and maintained by the Conference of State Banking Supervisors and the American Association of Residential Mortgage Regulators, or their successors for the licensing and registration of persons engaged in the state-regulated financial service industries.
Washington, D.C. metropolitan region - means the District of Columbia, the counties of Montgomery and Prince Georges in the State of Maryland, the counties of Arlington and Fairfax, and the cities of Alexandria and Falls Church in the Commonwealth of Virginia.
D.C. Mun. Regs. tit. 26, r. 26-C3099