Sec. 1. (a) This chapter does not apply to a financial institution organized under IC 28 or federal law.
(b) This chapter does not apply to a person principally engaged in the bona fide retail sale of goods or services if:
(1) the person, either incidental to or independent of a retail sale of goods or services, from time to time cashes checks; and
(2) the consideration (as defined in section 3 of this chapter) charged for cashing checks does not exceed five dollars ($5).
As added by P.L.42-1993, SEC.86. Amended by P.L.122-1994, SEC.104; P.L.213-2007, SEC.85; P.L.217-2007, SEC.83; P.L.89-2011, SEC.62.