RSA 359-P:1 · Definitions

359-P:1 Definitions. – In this chapter:

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I.

"Claimant" means a person who is a victim of the Financial Resources Mortgage fraud and who has filed a complete application for recovery assistance under this chapter.

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II.

"Director" means the director of charitable trusts, department of justice.

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III.

"Financial Resources Mortgage" means Financial Resources Mortgage, Inc., C L and M, Inc., and any predecessor, successor, or affiliated entities, and any entities established by, through, or with Scott Farah or Donald Dodge, through which moneys of Financial Resources Mortgage, Inc., C L and M, Inc., and any predecessor, successor, or affiliated entities passed.

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IV.

"Financial Resources Mortgage fraud" means fraudulent acts committed by Financial Resources Mortgage or its principals where loans were brokered by or serviced by Financial Resources Mortgage.

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V.

"Fund" means the FRM victims' contribution recovery fund established in RSA 359-P:2.

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VI.

"Person" means an individual, corporation, partnership, association, joint stock company, unincorporated organization, or any other entity.

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VII.

"Qualifying claimant" means a person who suffered financial losses as a result of the Financial Resources Mortgage fraud and is a claimant eligible for recovery assistance under this chapter. Qualifying claimant shall not include a borrower under any loan transaction borrowed or serviced by Financial Resources Mortgage.

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VIII.

"Recovery assistance" means payments from the fund to persons who suffered financial losses as a result of the Financial Resources Mortgage fraud.

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IX.

"Victim" means a person who suffered monetary injury as a result of the Financial Resources Mortgage fraud. Source. 2016, 293:2, eff. Aug. 20, 2016.

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