"Premium" means:

1. (1) currency issued by the United States of America paid to a bail agent prior to the execution of a bail bond;

2. (2) a check delivered to a bail agent prior to the execution of the bail bond that must be:

   1. (A) properly payable when delivered; and
   2. (B) deposited in the bail agent's bank account; or

3. (3) a credit card transaction if the bail agent:

   1. (A) accepts the credit card; and

   2. (B) obtains:

      1. (i) authorization from the credit card issuer for the amount due; and

      2. (ii) an approval number from the credit card issuer for the credit card transaction;

         before the execution of the bail bond.

As added by P.L.261-1985, SEC.1. Amended by P.L.224-1993, SEC.3; P.L.348-1995, SEC.1.