Indiana § 24-8-2-8 - "Verifiable retail value" defined
Full text of Indiana Indiana Code § 24-8-2-8 — "Verifiable retail value" defined, with citation guidance and answers to common questions.
§ 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.
IC 24-8-3Chapter 3. Notice
24-8-3-1Delivery 24-8-3-2Names and addresses 24-8-3-3Statement of verifiable retail value of prizes 24-8-3-4Statement of odds 24-8-3-5Location and size of statement of verifiable retail value and odds 24-8-3-6Attendance at sales presentation 24-8-3-7Additional purchases 24-8-3-8Eligibility limitations 24-8-3-9Presentation of winning ticket necessary 24-8-3-10Applicability of chapter to certain book, record, video, and magazine promotions
Frequently Asked Questions About Indiana § 24-8-2-8
What does Indiana Code § 24-8-2-8 cover?
Section 24-8-2-8 (""Verifiable retail value" defined") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 24-8-2-8?
A common citation format is "Indiana Code § 24-8-2-8" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 24-8-2-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.