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L71 <br />w <br />(h) "Ultimate Equitable Owner" means a natural person who, directly or <br />indirectly, owns or controls an ownership interest in a corporation, a foreign corporation, an <br />alien business organization, or any other form of business organization, regardless of whether <br />such natural person owns or controls such ownership interest through one or more natural <br />persons or one or more proxies, powers of attorney, nominees, corporations, associations, <br />partnerships, trusts, joint stock companies, or other entities or devices, or any combination <br />thereof. <br />SECTION 3. MOTOR VEHICLE TITLE LOAN TRANSACTIONS.. <br />(a) A title loan lender may engage in a title loan transaction, if the following <br />conditions are met: <br />(1) The title loan lender maintains physical possession of the motor vehicle <br />certificate of title, <br />(2) The borrower maintains possession of, or control over, the motor <br />vehicle throughout the term of the loan, <br />(3) The borrower is not required to pay rent or any other charge for the use <br />of the motor vehicle, <br />(4) The title loan lender holds a current, active license issued by the <br />Department pursuant to this Ordinance, <br />(5) The title loan lender delivers to the borrower, at the time the loan is <br />made, a written title loan agreement that contains the following information: <br />(a) The make, model, and year of the motor vehicle to which the loan <br />relates, <br />(b) The vehicle identification number, or other comparable <br />identification number, along with the license plate number, if applicable, of the motor vehicle <br />to which the loan relates, <br />(c) The name, address, date of birth, physical description, and social <br />security number of the borrower, <br />SEPTEMBER 28, 1999 <br />-115- <br />, <br />• <br />