“Private investor” defined. “Private investor” means:
1. An investor who is a natural person and who provides his own money for investment in a loan secured by a lien on real property; and
2. Two or more investors who are relatives and who jointly provide their own money for investment in a loan secured by a lien on real property, unless the investors are acting on behalf of a partnership, a corporation or some other separate legal entity.
Last modified: February 27, 2006