A restricted-use credit agreement is a regulated consumer credit agreement—
to finance a transaction between the debtor and the creditor, whether forming part of that agreement or not, or
to finance a transaction between the debtor and a person (the "supplier ") other than the creditor, or
to refinance any existing indebtedness of the debtor's, whether to the creditor or another person,
and "restricted-use credit " shall be construed accordingly.
An unrestricted-use credit agreement is a regulated consumer credit agreement not falling within subsection (1), and "unrestricted-use credit " shall be construed accordingly.
An agreement does not fall within subsection (1) if the credit is in fact provided in such a way as to leave the debtor free to use it as he chooses, even though certain uses would contravene that or any other agreement.
An agreement may fall within subsection (1)(b) although the identity of the supplier is unknown at the time the agreement is made.