2014 Indiana Code TITLE 24. TRADE REGULATION ARTICLE 8. PROMOTIONAL GIFTS AND CONTESTS CHAPTER 2. DEFINITIONS
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IC 24-8-2
Chapter 2. Definitions
IC 24-8-2-1
Applicability
Sec. 1. The definitions in this chapter apply throughout this article.
As added by P.L.233-1989, SEC.1.
IC 24-8-2-2
"Person" defined
Sec. 2. "Person" means an individual, corporation, the state or its
subdivisions or agencies, business trust, estate, trust, partnership,
association, cooperative, or any other legal entity.
As added by P.L.233-1989, SEC.1.
IC 24-8-2-3
"Prize" defined
Sec. 3. "Prize" means a gift, award, or other item distributed in a
promotion.
As added by P.L.233-1989, SEC.1.
IC 24-8-2-4
"Promoter" defined
Sec. 4. "Promoter" means a person conducting a promotion.
As added by P.L.233-1989, SEC.1.
IC 24-8-2-5
"Promotion" defined
Sec. 5. "Promotion" means a written notice offering:
(1) property; or
(2) a chance to obtain property;
to a person based on a representation that the person has been
awarded or may have been awarded a prize.
As added by P.L.233-1989, SEC.1.
IC 24-8-2-6
"Property"
Sec. 6. "Property" has the meaning set forth in IC 35-31.5-2-253.
As added by P.L.233-1989, SEC.1. Amended by P.L.114-2012,
SEC.49.
IC 24-8-2-7
"Sponsor" defined
Sec. 7. "Sponsor" means a person on whose behalf a promotion is
conducted to promote or advertise goods, services, or property of that
person.
As added by P.L.233-1989, SEC.1.
IC 24-8-2-8
"Verifiable retail value" defined
Sec. 8. "Verifiable retail value" means:
(1) a price at which a promoter or sponsor can demonstrate that
a substantial number of prizes have been sold at retail by a
person other than the promoter or sponsor; or
(2) if substantiation described in this section is not available to
a promoter or sponsor, no more than one and one-half (1.5)
times the amount a promoter or sponsor paid for a prize.
As added by P.L.233-1989, SEC.1.
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