"Verifiable retail value" defined

Ind. Code § 24-8-2-8
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/24Fetched: 10/17/2026

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Ind. Code § 24-8-2-8 — "Verifiable retail value" defined | Indiana Code (Aug. 2026 snapshot) | Corpus