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24-5-12-13. Registration statement; gifts, prizes, or other items represented or implied; additional information required

IN Code § 24-5-12-13 (2019) (N/A)
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Sec. 13. If the seller represents or implies, or directs a salesperson to represent or imply, to a prospect that a purchaser will receive one (1) or more items (whether the items are designated as gifts, premiums, bonuses, prizes, or otherwise), the registration statement must also contain the following information:

(1) A list of items offered.

(2) The value of each item described to a prospect and the basis for the valuation.

(3) The price paid by the seller to its supplier for each of these items, and the names, business addresses, and business telephone numbers of the supplier of each item.

(4) The manner in which the seller decides which items a prospect is to receive, if a purchaser is to receive fewer than all of the items described by the seller.

(5) The odds a prospect or purchaser has of receiving each described item, if a purchaser is to receive fewer than all of the items described by the seller.

(6) All terms and conditions that a prospect must meet in order to receive the item, if a purchaser is to receive fewer than all of the items described by the seller.

As added by P.L.253-1987, SEC.1.

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