§ 24-4-2-3 — Refusal to redeem

Any person engaged in any trade, business, or
profession who shall distribute, deliver, or present to any person
dealing with him, in consideration of any article or thing purchased,
any stamp, trading stamp, cash discount stamp, check, ticket, coupon,
or other similar device which will entitle the holder thereof, on
presentation thereof, either singly or in definite number, to receive
either directly from the person issuing or selling the same, as set forth
in section 2 of this chapter, or indirectly from any other person, shall,
upon the refusal or failure of the said person issuing or selling same to
redeem the same as set forth in said section 2 of this chapter, be liable
to the holder thereof for the face value thereof, and shall, upon
presentation of the same in lots of number aggregating, in money value,
not less than five cents ($0.05) in each lot, redeem the same either in
ware or merchandise or in lawful money of the United States, at the
option of the holder thereof, at the value in lawful money printed on the
face thereof.
Formerly: Acts 1913, c.299, s.3. As amended by P.L.152-1986,
SEC.48.