Indiana § 12-13-14-8 - Payment to retailer by contractor; penalty payments; system failure
Full text of Indiana Indiana Code § 12-13-14-8 — Payment to retailer by contractor; penalty payments; system failure, with citation guidance and answers to common questions.
§ 12-13-14-8. Payment to retailer by contractor; penalty payments; system failure
Sec. 8. (a) An approved transaction must be paid to the retailer not later than the end of the second business day in which a financial institution is open for business to the public following the approval of the transaction.
(b) Failure by the contractor to pay the retailer in accordance with subsection (a) will result in penalty payments being paid by the contractor to the retailer.
(c) If there is a system failure, off-line transactions will be authorized and guaranteed up to an amount to be determined by the division. The retailer must comply with the division's rules for off-line transactions.
As added by P.L.15-1996, SEC.2.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 12-13-14-8
What does Indiana Code § 12-13-14-8 cover?
Section 12-13-14-8 ("Payment to retailer by contractor; penalty payments; system failure") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 12-13-14-8?
A common citation format is "Indiana Code § 12-13-14-8" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 12-13-14-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.