"Lender credit card or similar arrangement" means an arrangement or loan agreement, other than a seller credit card, pursuant to which a lender gives a debtor the privilege of using a credit card, letter of credit, or other credit confirmation or identification in transactions out of which debt arises:

1. (1) by the lender's honoring a draft or similar order for the payment of money drawn or accepted by the debtor;
2. (2) by the lender's payment or agreement to pay the debtor's obligations; or

3. (3) by the lender's purchase from the obligee of the debtor's obligations.

   [Pre-2026 Revision Citation: 24-4.5-1-301.5(21).]

As added by P.L.115-2026, SEC.97.