"Extension of credit" defined

Sec. 3. As used in this chapter, "extension of credit" means the right to: (1) defer payment of debt offered or granted primarily for personal, family, or household purposes; (2) incur debt and defer payment of the debt offered or granted primarily for personal, family, or household purposes; or (3) delay or avoid foreclosure on a buyer's residence. As added by P.L.142-1990, SEC.1. Amended by P.L.171-2006, SEC.2.