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Language Disclosure for Sweepstakes Entry Blank

Answered by: 
Jim Bedsole

Question: 
We're planning to run a sweepstakes in conjunction with the grand re-opening of one of our supermarket branches. Prizes will be gift cards to the supermarket with values ranging from $500-$50. I'm looking for some standard language to include in the disclaimer on the entry blank. For example, no purchase required; must be 18 years or older to enter; one entry per visit, please; winners to be notified by mail/phone after 7/22/06. Should any other information be included? My understanding is that prize values are under the $600 limitation for 1099-MISC reporting.
Answer: 

This is definitely an area where you should seek legal advice. That means hiring a lawyer who understands this area of law to review your process and forms. Because laws on sweepstakes and lotteries vary widely from state to state, no one answer can fit all situations. Also, because of regulations prohibiting financial institutions from participating in certain lotteries and sweepstakes, such processes have to be constructed very carefully to avoid violations.

First published on BankersOnline.com 7/03/06

First published on 07/03/2006

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Filed under operations as: 
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Sweepstakes

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