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Terms Used In Indiana Code 27-4-10-4

  • Automated Clearing House Network payment: means a payment made under National Automated Clearing House Association standards adopted in Indiana Code 27-4-10-1
  • 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
   Sec. 4. As used in this chapter, “electronic funds transfer payment” includes a payment by any method of electronic funds transfer other than an Automated Clearing House Network payment.

As added by P.L.31-2021, SEC.4.