Note: This version of section effective until 1-1-2024. See also following repeal of this chapter, effective 1-1-2024.

     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

(1) a check;

(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.