Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · BILL · 113th Congress · S. 1597 (Introduced in Senate) — To provide for the use of savings promotion raffle products by financial institutions to encourage savings, and for o... · Sec. 3

Sec. 3. Amendment to definitions of lottery

514 words·~2 min read·/bill/113/s/1597/is/section-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

lottery Section 5136B(c) of the Revised Statutes of the United States ( 12 U.S.C. 25a(c) ) is amended— in paragraph (2), by inserting , other than a savings promotion raffle, before whereby ; and by adding at the end the following: The term savings promotion raffle means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 1002 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 )). .
Section 9A(c) of the Federal Reserve Act ( 12 U.S.C. 339(c) ) is amended— in paragraph (2), by inserting , other than a savings promotion raffle, before whereby ; and by adding at the end the following: The term savings promotion raffle means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 1002 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 )). .
Section 20(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1829a(c) ) is amended— in paragraph (2), by inserting , other than a savings promotion raffle, before whereby ; and by adding at the end the following: The term savings promotion raffle means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 1002 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 )). .
Section 4(e)(3) of the Home Owners' Loan Act ( 12 U.S.C. 1463(e)(3) ) is amended— in subparagraph (B), by inserting , other than a savings promotion raffle, after arrangement ; and by adding at the end the following: The term savings promotion raffle means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 1002 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 )). .
Connectionstraces to 5
Citation graph
cites case law
Sec. 3
Amendment to definitions of lottery
U.S.C.§ 25a
U.S.C.§ 5481
U.S.C.§ 339
U.S.C.§ 1829a
U.S.C.§ 1463
Cites 5Cited by 0 across 0 sources
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.