As used in this chapter, "outstanding payment instrument" means a payment instrument issued by the licensee that:

1. (1) has been sold in the United States;

2. (2) has been sold:

   1. (A) by the licensee; or
   2. (B) by an authorized delegate of the licensee and has been reported to the licensee as having been sold; and
3. (3) has not been paid by or on behalf of the licensee.

As added by P.L.42-1993, SEC.85.