2013 Iowa Code
TITLE XVI CRIMINAL LAW AND PROCEDURE
SUBTITLE 1 CRIME CONTROL AND CRIMINAL ACTS
CHAPTER 714B PRIZE PROMOTIONS
714B.1 Definitions.
714B.1 Definitions.
As used in this chapter, unless the context otherwise requires:
1. Advertisement means as defined in section 714.16, subsection 1.
2. Merchandise means as defined in section 714.16, subsection 1.
3. Person means as defined in section 714.16, subsection 1.
4. Prize means a gift, award, cash award, or other merchandise of value that is offered or awarded to a person in a real or purported contest, competition, sweepstakes, puzzle, drawing, scheme, plan, or other selection process.
5. Retail value of a prize means the following:
a. A price at which the sponsor of the prize can substantiate that a substantial number of the items of merchandise have been sold to the public in the year preceding the date of the written prize notice in the regular course of business other than through a prize promotion.
b. No more than one and one-half times the amount the sponsor paid for the prize in a bona fide purchase from an unaffiliated seller, if the sponsor is unable to substantiate a price pursuant to paragraph a .
6. Sponsor means a person who awards another person a prize or who allows the person to receive, use, compete for, or obtain information about a prize.
94 Acts, ch 1185, §2
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