Answer:
State laws control what disclosures must be made and how they must be available. Referring them only to a branch for the rules may be considered onerous/burdensome. This is especially so if you draw people into the branch, only to tell them they don't qualify for entry because of their age, where they live, etc. Winners would be subject to tax reporting on a 1099-Misc when the value of the winnings are $600 or more.
First published on BankersOnline.com 10/19/09
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