§ 24-8-2-1 Applicability
§ 24-8-2-2 “Person” defined
§ 24-8-2-3 “Prize” defined
§ 24-8-2-4 “Promoter” defined
§ 24-8-2-5 “Promotion” defined
§ 24-8-2-6 “Property”
§ 24-8-2-7 “Sponsor” defined
§ 24-8-2-8 “Verifiable retail value” defined
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Terms Used In Indiana Code > Title 24 > Article 8 > Chapter 2 - Definitions

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5