The following terms shall have the meanings ascribed to them unless the context clearly indicates otherwise:
- (1) TREASURER. The State Treasurer of Alabama.
- (2) FINANCIAL INSTITUTION. Any bank, savings and loans association or credit union operating in Alabama which is chartered under federal or state statutes.
- (3) FINANCIAL INSTITUTION CREDIT CARD. A credit card that entitles the holder to make open-account purchases up to an approved amount and which is issued through a financial institution.
- (4) SPONSORING ENTITY. An entity, including specifically the State of Alabama, which solicits the use of a particular financial institution credit card bearing the entity’s name in exchange for a fee from the credit card issuer.
- (5) STATE FEES. All moneys generated from this program that are remitted to the State of Alabama.
(Acts 1990, No. 90-524, p. 764, §1.)