Library: Policy
OKDHS:2-11-32. Definitions
Issued 8-1-06
The following words and terms, when used in this Part, shall have the following meanings unless the context clearly indicates otherwise:
"Billing cycle" or "cycle" means a period of time ending on the same date each month. For example, cycle 27 ends at midnight on the 27th of each month. All transactions posting to the cardholder account from the 28th of the month to the 27th of the next month would be within one cycle. If the cycle occurs on Saturday, Sunday, or a bank holiday, the cycle ends on the business day following the cycle date.
"Cardholder's authorized signer" is a person who is authorized to make commitments against or approve expenditures on purchase card (p/card) purchases. An authorized signer must have Form 10CL222E, Authorization Signature Card, on file with the Finance Division. Only hand-written signatures are accepted.
"Issuing bank" means the bank issuing the p/card for the State of Oklahoma.
"Merchant," "supplier," or "vendor" means a business or other organization that provides products to customers.
"Merchant category code (MCC)" means a standard identifier used by the credit card industry to designate businesses based on the type of products provided, and assigned by the acquiring bank.
"Merchant category code group (MCCG)" means a defined category of business designations used to control cardholder purchases from particular types of businesses. MCCGs are defined for OKDHS by the Finance Division.
"Split purchasing" means dividing or failing to consolidate a known quantity of products for the purpose of evading:
- (A) the p/card statutory single transaction limit of $2,500; [74 O.S. § 85.5]
- (B) limits established for an individual p/card; or
- (C) a quotation or bidding requirement.
"Transaction" means a single purchase or credit.
