Sec. 6. As used in this chapter, "prize linked savings program" means a contest:
(1) that is associated with one (1) or more qualified accounts or one (1) or more qualified financial programs offered by an eligible depository financial institution to eligible individuals;
(2) that is conducted by an eligible depository financial institution, alone or together with one (1) or more other businesses;
(3) that offers eligible individuals one (1) or more chances to win designated prizes; and
(4) in which:
(A) the sole consideration for a chance to win a designated prize is obtained by:
(i) depositing a minimum specified amount of money in a qualified account; or
(ii) participating in one (1) or more qualified financial programs; and
(B) each entry has an equal chance of being drawn.
As added by P.L.135-2014, SEC.3.
Structure Indiana Code
Title 28. Financial Institutions
Article 1. Department of Financial Institutions
Chapter 23.2. Prize Linked Savings Programs
28-1-23.2-2. "Eligible Depository Financial Institution"
28-1-23.2-3. "Eligible Individual"
28-1-23.2-4. "Qualified Account"
28-1-23.2-5. "Qualified Financial Program"
28-1-23.2-6. "Prize Linked Savings Program"
28-1-23.2-7. Required Conditions to Offer and Conduct a Prize Linked Savings Program
28-1-23.2-8. Statement Describing the Terms and Conditions of Prize Linked Savings Programs