Indiana § 28-1-23.2-6 "Prize linked savings program"

Indiana Statutes

§ 28-1-23.2-6 — "Prize linked savings program"

Indiana § 28-1-23.2-6

Art. 1DEPARTMENT OF FINANCIAL INSTITUTIONS

Ch. 23.2Prize Linked Savings Programs

This text of Indiana § 28-1-23.2-6 ("Prize linked savings program") is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 28-1-23.2-6 (2026).

Text

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.

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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.