Terms Used In Indiana Code > Title 28 > Article 8 - Financial Services

• applicant: means a person filing an application for a license under this chapter. See Indiana Code 28-8-4-2
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• authorized delegate: means an entity designated by a licensee to:

  Indiana Code 28-8-4-3

• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• boxing: means the art of attack and defense with the fists, or feet in the case of kickboxing, practiced as a sport. See Indiana Code 4-33-22-1
• check cashing transaction: means a transaction under this chapter in which there is no written or implied agreement to hold the check for more than three (3) business days. See Indiana Code 28-8-5-2.5
• checks: includes a check, draft, or money order. See Indiana Code 28-8-5-2
• 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
• consideration: includes a premium charged for the sale of goods or services in excess of the cash price of the sale of such goods or services. See Indiana Code 28-8-5-3
• control: means :

  Indiana Code 28-8-4-4

• controlling person: means a person in control of a licensee. See Indiana Code 28-8-4-5
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• department: means the members of the department of financial institutions. See Indiana Code 28-8-4-6
• department: means the members of the department of financial institutions. See Indiana Code 28-8-5-4
• director: has the meaning set forth in IC 28-11-2-1. See Indiana Code 28-8-4-7
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• executive officer: means a person who is or performs the duties of the licensee's:

  Indiana Code 28-8-4-8

• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• fund: refers to the athletic fund created by this section. See Indiana Code 4-33-22-9
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• individual: means a natural person. See Indiana Code 28-8-4-8.5
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• licensed activities: means money transmission activities:

  Indiana Code 28-8-4-10

• licensee: means a person licensed under this chapter. See Indiana Code 28-8-4-11
• licensee: means a licensed casher of checks. See Indiana Code 28-8-5-7
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• location: means a fixed or ambulatory place of business approved by the department. See Indiana Code 28-8-5-8
• mixed martial arts: means the unarmed physical confrontation of persons involving the use, subject to limitations as established by the commission, of a combination of techniques from different disciplines of the martial arts, including grappling, kicking, and striking. See Indiana Code 4-33-22-2
• money transmission: means an activity that:

  Indiana Code 28-8-4-13

• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• organization: means a corporation, a government or governmental subdivision, an agency, a trust, an estate, a partnership, a limited liability company, a cooperative, an association, a joint venture, an unincorporated organization, or any other entity, however organized. See Indiana Code 28-8-4-13.8
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• payment instrument: means :

  Indiana Code 28-8-4-15

• permissible investments: means :

  Indiana Code 28-8-4-16

• person: means an individual or an organization. See Indiana Code 28-8-4-17
• person: means any individual, sole proprietorship, partnership, trust, joint venture, limited liability company, corporation, unincorporated organization, or other form of entity, however organized. See Indiana Code 28-8-5-9
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• promoter: means the person primarily responsible for organizing, promoting, and producing a professional boxing or sparring, professional unarmed combat, or professional wrestling match, contest, or exhibition. See Indiana Code 4-33-22-6
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• sparring: means combat in which participants intend to and actually:

  Indiana Code 4-33-22-5

• state: means Indiana. See Indiana Code 28-8-4-19
• stored value card: means a card or device that:

  Indiana Code 28-8-4-19.5

• Trustee: A person or institution holding and administering property in trust.
• unarmed combat: means the practice, or any related practice, of mixed martial arts or martial arts. See Indiana Code 4-33-22-7
• Venue: The geographical location in which a case is tried.