Prize linked savings programs

Sec. 13. 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. As added by P.L.135-2014, SEC.5. Amended by P.L.186-2015, SEC.52.