Agent, Agency, Salesman, Collector and Branch

COL120106 CH. 110 DEFINITIONS The following terms, wherever used in this act, shall have the following meanings, except in cases where the context otherwise requires: An agent means a person, co-partnership or corporation soliciting or receiving applications for loans to be made by an association, or disbursing funds on behalf of such association on loans, where such services are rendered for compensation and as a whole or partial vocation and not casually or intermittently in connection with a general loan brokerage business, or representing himself or itself as being authorized by an association to solicit or receive applications for loans. An agency means an office owned and operated by an agent. A salesman means a person, co-partnership or corporation other than an agent and other than an officer, director, or employee of an agent, soliciting or receiving applications, subscriptions, or offers, or representing himself as being authorized by an association, to solicit or receive application, subscriptions or offers, on behalf of an association for shares, stock or investment certificates issued or to be issued by such association. A collector means a person, co-partnership, or corporation authorized in writing subscribed by an association to receive or collect, other than as or in connection with an escrow, funds or money paid or to be paid to an association on account of or in connection with loans, shares, stock or investment certificates of such association in force at the time of the a receipt or collection of such funds. Notwithstanding anything to the contrary contained in this section, however, no officer director, employee of an association, who receives no special compensation for services which, under the foregoing definitions, would make such officer, director or employee an agent, salesman or collector, shall be included within the meaning of the terms agent, salesman or collector, as used or defined in this act. Branch means any office or other place of business in this territory owned and operated by an association, other than its principal office in this territory, where subscriptions are sold, taken or solicited for shares, stock or investment certificates of such association or where such shares, stock or investment certificates are COL120106 CH. 110 DEFINITIONS sold or issued, otherwise than as security for or in connection with a loan by such association.