Indiana § 34-28-9.2-3 Court orders approving prize payment assignments

Indiana Statutes

§ 34-28-9.2-3 — Court orders approving prize payment assignments

Indiana § 34-28-9.2-3

Title 34CIVIL LAW AND PROCEDURE

Art. 28SPECIAL PROCEEDINGS: MISCELLANEOUS

Ch. 9.2Assignment of Lottery Prizes

This text of Indiana § 34-28-9.2-3 (Court orders approving prize payment assignments) 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 § 34-28-9.2-3 (2026).

Text

If a court finds that a prize payment or payments from the state lottery commission may be assigned based on a petition filed under section 1 of this chapter and IC 4-30-11-2.5, the court shall issue an order approving the prize payment assignment. The order must include a statement that the petitioner:

(1)has filed a verified petition under section 1 of this chapter;

(2)understands:

(A)the assignment of the prize payment or payments is voluntary;

(B)to whom the prize payment or payments will be assigned;

(C)the person will not receive future payments that are subject to an assignment made under IC 4-30-11-2.5;

(D)the state lottery commission and its employees are not liable to make any prize payments to the person that are assigned to another individual or entity under IC 4-30-11-2.

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If a court finds that a prize payment or
payments from the state lottery commission may be assigned based on
a petition filed under section 1 of this chapter and IC 4-30-11-2.5, the
court shall issue an order approving the prize payment assignment. The
order must include a statement that the petitioner:
(1) has filed a verified petition under section 1 of this chapter;
(2) understands:
(A) the assignment of the prize payment or payments is
voluntary;
(B) to whom the prize payment or payments will be assigned;
(C) the person will not receive future payments that are subject
to an assignment made under IC 4-30-11-2.5;
(D) the state lottery commission and its employees are not
liable to make any prize payments to the person that are
assigned to another individual or entity under IC 4-30-11-2.5;
and
(E) that the person may cancel the contract assigning the
person's prize payment or payments within three (3) business
days after the date the contract assigning the prize payment or
payments is signed;
(3) is of sound mind, is in full command of the person's faculties,
and is not acting under duress;
(4) has received or has had the opportunity to receive legal,
financial, and tax advice from a person or entity other than the
person or entity that would be assigned the prize payment or
payments;
(5) has no debts to state agencies or has satisfied all past debts to
state agencies; and
(6) has received, prior to signing the contract assigning the prize
payment or payments, a written disclosure statement, on a
separate piece of paper, in bold type with a font at least fourteen
(14) points, stating the details of the proposed assignment,
including:
(A) the amount of the prize payment or payments assigned;
(B) the dates of the prize payment or payments assigned;
(C) the purchase price of the prize payment or payments
assigned;
(D) the rate of discount to present value, assuming daily
compounding and funding on the contract date; and
(E) the amount, if any, of any origination or closing fees
charged to the person.