§ 24-5-12-13 — Registration statement; gifts, prizes, or other items represented or implied; additional information required

Indiana § 24-5-12-13

• Jurisdiction: Indiana
• Art. 5: CONSUMER SALES
• Ch. 12: Telephone Solicitations

Text

If the seller represents or implies, or directs
a salesperson to represent or imply, to a prospect that a purchaser will
receive one (1) or more items (whether the items are designated as
gifts, premiums, bonuses, prizes, or otherwise), the registration
statement must also contain the following information:
(1) A list of items offered.
(2) The value of each item described to a prospect and the basis
for the valuation.
(3) The price paid by the seller to its supplier for each of these
items, and the names, business addresses, and business telephone
numbers of the supplier of each item.
(4) The manner in which the seller decides which items a prospect
is to receive, if a purchaser is to receive fewer than all of the items
described by the seller.
(5) The odds a prospect or purchaser has of receiving each
described item, if a purchaser is to receive fewer than all of the
items described by the seller.
(6) All terms and conditions that a prospect must meet in order to
receive the item, if a purchaser is to receive fewer than all of the
items described by the seller.

Legislative History

As added by P.L.253-1987, SEC.1.