Indiana Code > Title 5 > Article 27 > Chapter 2 – Definitions
Current as of: 2023 | Check for updates
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Other versions
| § 5-27-2-1 | Application |
| § 5-27-2-2 | “Contract” |
| § 5-27-2-3 | “Electronic payment” |
| § 5-27-2-4 | “Governmental body” |
| § 5-27-2-5 | “Provider company” |
Terms Used In Indiana Code > Title 5 > Article 27 > Chapter 2 - Definitions
- 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.
- 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
- 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.
- 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.