Indiana Code 24-8-2-3. “Prize” defined
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Terms Used In Indiana Code 24-8-2-3
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Sec. 3. “Prize” means a gift, award, or other item distributed in a promotion.
As added by P.L.233-1989, SEC.1.