24-8-2-8. "Verifiable retail value" defined

IN Code § 24-8-2-8 (2019) (N/A)
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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.