Indiana Code 24-5-27.5-7. “Financial services provider”
Current as of: 2024 | Check for updates
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Sec. 7. (a) As used in this chapter, “financial services provider” means any of the following that is involved in facilitating or processing a payment card transaction, as appropriate in the context:
(2) A person engaged in money transmission in Indiana under IC 28-8-4.1.
(1) A financial institution.
Terms Used In Indiana Code 24-5-27.5-7
- affiliate: means any person who directly or indirectly:
Indiana Code 24-5-27.5-2
- financial institution: means any bank, trust company, corporate fiduciary, savings association, credit union, savings bank, bank of discount and deposit, or industrial loan and investment company organized or reorganized under Indiana law, the law of another state (as defined in IC 28-2-17-19), or United States law. See Indiana Code 24-5-27.5-6
- merchant acquirer: means a person that establishes a relationship with a merchant to enable the processing of payment card transactions by collecting funds from the payment card issuer in the transaction and depositing them in the merchant's account. See Indiana Code 24-5-27.5-13
- payment card: means :
Indiana Code 24-5-27.5-14
- payment card issuer: means a:
Indiana Code 24-5-27.5-15
- payment card network: means an entity that directly, or through licensed members, processors, or agents, provides the proprietary services, infrastructure, and software that:
Indiana Code 24-5-27.5-16
- person: means :
Indiana Code 24-5-27.5-18
(3) A payment card issuer.
(4) A payment card network.
(5) A merchant acquirer.
(b) The term includes an:
(1) affiliate;
(2) officer;
(3) agent; or
(4) employee;
of a person listed in subsection (a).
As added by P.L.132-2024, SEC.4.