This chapter does not apply to a prize linked savings program that:

1. (1) is offered or conducted by an eligible financial institution under IC 28-1-23.2 ;

2. (2) is:

   1. (A) offered or conducted by a credit union organized or reorganized under United States law; and
   2. (B) conducted in the same manner as a prize linked savings program under IC 28-1-23.2 ; or

3. (3) is:

   1. (A) offered or conducted by an insured depository institution (as defined in 12 U.S.C. 1813) that is:

      1. (i) a national bank formed under 12 U.S.C. 21;
      2. (ii) a state member bank (as defined in 12 U.S.C. 1813);
      3. (iii) a state nonmember bank (as defined in 12 U.S.C. 1813); or
      4. (iv) a savings association (as defined in 12 U.S.C. 1813); and
   2. (B) conducted in the same manner as a prize linked savings program under IC 28-1-23.2 .

As added by P.L.135-2014, SEC.5. Amended by P.L.186-2015, SEC.52.