Indiana Code 28-8-4-15. Payment instrument
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Note: This version of section effective until 1-1-2024. See also following repeal of this chapter, effective 1-1-2024.
(1) a check;
Sec. 15. (a) As used in this chapter, “payment instrument” means:
Terms Used In Indiana Code 28-8-4-15
- closed system stored value card: refers to a stored value card the use of which is limited to one (1) or more specified merchants or locations. See Indiana Code 28-8-4-3.5
- stored value card: means a card or device that:
Indiana Code 28-8-4-19.5
(2) a draft;
(3) a money order;
(4) a traveler’s check;
(5) a stored value card, other than a closed system stored value card; or
(6) an instrument or written order for the transmission or payment of money;
sold or issued to one (1) or more persons, whether such instrument is negotiable.
(b) As used in this chapter, “payment instrument” does not include:
(1) a credit card voucher;
(2) a letter of credit;
(3) an instrument that is redeemable by the issuer in goods or services; or
(4) a closed system stored value card.
As added by P.L.42-1993, SEC.85. Amended by P.L.10-2006, SEC.53 and P.L.57-2006, SEC.53; P.L.129-2020, SEC.19; P.L.29-2022, SEC.11.