Terms Used In Indiana Code > Title 28 > Article 8 > Chapter 4 - Money Transmitters

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• applicant: means a person filing an application for a license under this chapter. See Indiana Code 28-8-4-2
• authorized delegate: means an entity designated by a licensee to:

  Indiana Code 28-8-4-3

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• department: means the members of the department of financial institutions. See Indiana Code 28-8-4-6
• director: has the meaning set forth in IC 28-11-2-1. See Indiana Code 28-8-4-7
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• executive officer: means a person who is or performs the duties of the licensee's:

  Indiana Code 28-8-4-8

• 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.
• in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
• 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
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• money transmission: means an activity that:

  Indiana Code 28-8-4-13

• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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
• Oversight: Committee review of the activities of a Federal agency or program.
• 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
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• 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.
• state: means Indiana. See Indiana Code 28-8-4-19
• Statute: A law passed by a legislature.
• stored value card: means a card or device that:

  Indiana Code 28-8-4-19.5

• Subpoena: A command to a witness to appear and give testimony.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5