### Question
How does the law define lender?


### Answer
Under *33 U.S.C. § 3901*, **lender** is defined as:

> any non-Federal qualified institutional buyer (as defined in section 230.144A(a) of title 17, Code of Federal Regulations (or a successor regulation), known as Rule 144A(a) of the Securities and Exchange Commission and issued under the Securities Act of 1933 (15 U.S.C. 77a et seq.))

#### Citation:
  - *33 U.S.C. § 3901*
  - Heading: **CHAPTER 52-WATER INFRASTRUCTURE FINANCE AND INNOVATION**

