Ind. Code § 35-45-5-13

Current through P.L. 171-2024

Section 35-45-5-13 - Prize linked savings programs

This chapter does not apply to a prize linked savings program that:

(1) is offered or conducted by an eligible financial institution under IC 28-1-23.2;

(2) is:

(A) offered or conducted by a credit union organized or reorganized under United States law; and

(B) conducted in the same manner as a prize linked savings program under IC 28-1-23.2; or

(3) is:

(A) offered or conducted by an insured depository institution (as defined in 12 U.S.C. 1813) that is:

(i) a national bank formed under 12 U.S.C. 21;

(ii) a state member bank (as defined in 12 U.S.C. 1813);

(iii) a state nonmember bank (as defined in 12 U.S.C. 1813); or

(iv) a savings association (as defined in 12 U.S.C. 1813); and

(B) conducted in the same manner as a prize linked savings program under IC 28-1-23.2.

IC 35-45-5-13

Amended by P.L. 186-2015, SEC. 52, eff. 7/1/2015.

Added by P.L. 135-2014, SEC. 5, eff. 3/25/2014.