Indiana Code 28-1-23.2-4. “Qualified account”

Sec. 4. (a) As used in this chapter, “qualified account”, for purposes of a prize linked savings program, means:

(1) a savings account;

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eligible depository financial institution: means a credit union that is organized or reorganized under Indiana law with the express power to receive and accept deposits of money subject to withdrawal by any of the methods set forth in IC 28-1-23-16. See Indiana Code 28-1-23.2-2
prize linked savings program: means a contest:
Indiana Code 28-1-23.2-6

(2) a time deposit; or

(3) a savings program;

that is offered by an eligible depository financial institution to an eligible individual.

(b) The term includes:

(1) an account described in subsection (a) that is a share account; and

(2) an account described in subsection (a) in which an eligible individual has an interest:

(A) individually; or

(B) jointly with another eligible individual.

As added by P.L.135-2014, SEC.3.