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.
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