| Alabama |
None |
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| Alaska |
None |
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| Arizona |
None |
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| Arkansas |
H.B. 1642
Signed by governor 3/20/15, Act 589
|
Creates the Arkansas Savings Promotion Act. |
| California |
None |
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| Colorado |
None |
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| Connecticut |
None |
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| Delaware |
None |
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| District of Columbia |
None |
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| Florida |
None |
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| Georgia |
None |
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| Guam |
Not available |
|
| Hawaii |
None |
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| Idaho |
None |
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| Illinois |
H.B. 2477
Signed by governor 7/28/15, Public Act 99-0149
|
Amends the Illinois Credit Union Act, the Illinois Banking Act, and the Savings Bank Act; provides that a credit union's board of directors may authorize a savings promotion raffle; provides that, if authorized by its board of directors, a state bank may conduct a savings promotion raffle; provides that the savings promotion raffle shall be conducted so that each token or ticket representing an entry in the savings promotion raffle has an equal chance of being drawn; defines a "savings promotion raffle"; makes conforming changes in the Raffles and Poker Runs Act and the Criminal Code of 2012; amends the Raffles and Poker Runs Act; provides that "raffle" does not include a savings promotion raffle authorized under the Illinois Banking Act, the Savings Bank Act, the Illinois Credit Union Act, the National Bank Act, or the Home Owners' Loan Act.
|
| Illinois |
H.B. 2700 |
Amends the Illinois Credit Union Act. Provides that a credit union's board of directors may authorize a savings promotion raffle. Defines a "savings promotion raffle" to mean a raffle conducted by a credit union where the sole consideration required for a chance of winning designated prizes is the deposit of at least a specified amount of money in a savings account or other savings program offered by the credit union. Makes conforming changes in the Raffles and Poker Runs Act and the Criminal Code of 2012. |
| Indiana |
None |
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| Iowa |
None |
|
| Kansas |
None |
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| Kentucky |
None |
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| Louisiana |
None |
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| Maine |
None |
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| Maryland |
H.B. 558
Signed by governor 4/14/15, Chapter 95
S.B. 515
Vetoed by governor – duplicative 5/12/15
|
Alters the circumstances under which specified depository institutions may conduct a savings promotion raffle. Repeals a requirement that a depository institution that offers a savings promotion raffle must post in specified locations and disclose in specified materials a specified statement describing the terms and conditions of the raffle. Repeals a requirement that the commissioner of Financial Regulation must approve a savings promotion raffle conducted by a banking institution. |
| Massachusetts |
S.B. 495 |
Authorizes banks and credit unions to conduct a savings promotion raffle, provided that the financial institutions (1) conduct the savings promotion raffle in a manner that ensures that each entry has an equal chance of winning the designated prize; (2) fully disclose the terms and conditions of the savings promotion raffle to each qualified account holder; and (3) maintain records sufficient to facilitate an audit the savings promotion raffle program. |
| Massachusetts |
S.B. 546 |
Authorizes a bank to receive deposits in conjunction with a savings promotion raffle pursuant to the federal American Savings Promotion Act. For the purposes of this section 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 federal regulator. |
| Michigan |
H.B. 5022
Passed House 12/9/15
|
Allows "loan or savings promotion" raffles if all of the following apply: (i) It must be conducted so that each token or ticket representing an entity in the raffle has an equal chance of being drawn. A credit union could not conduct a loan promotion raffle in a manner that jeopardizes the domestic credit union's safety and soundness or misleads its members. (ii) The director could examine the conduct of a loan promotion raffle and could issue a cease and desist order for violation of the section. (iii) The credit union would be required to maintain records sufficient to facilitate an audit of a savings promotion raffle. The bill defines "loan promotion raffle" to mean a raffle conducted by a domestic credit union where the sole consideration required for a chance of winning designated prizes is closing on a loan of at least a specified amount or depositing at least a specified amount. |
| Minnesota |
H.F. 1127
Signed by governor 5/14/15, Chapter 29
S.F. 1043
Indefinitely postponed 5/4/15
|
Relates to financial institutions; provides for savings promotion raffles.
|
| Mississippi |
None |
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| Missouri |
None |
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| Montana |
None |
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| Nebraska |
L.B. 160
Signed by governor 3/12/15
|
Changes provisions relating to gift enterprises to expand from credit unions to financial institutions to participate in savings promotion raffles. |
| Nevada |
None |
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| New Hampshire |
None |
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| New Jersey |
A.B. 3868
Substituted 12/17/15
S.B. 2495
Signed by governor 1/19/16, Chapter 236
|
Authorizes state-chartered banks, savings banks, savings and loans, and credit unions to conduct certain savings account promotions. |
| New Mexico |
None |
|
| New York |
None |
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| North Carolina |
S.B. 327
Passed Senate 4/22/15
|
Allows banks to conduct savings promotion raffles.
|
| North Dakota |
None |
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| N. Mariana Islands |
Not available |
|
| Ohio |
None |
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| Oklahoma |
None |
|
| Oregon |
H.B. 2726 |
Permits a credit union to conduct a savings promotion raffle, subject to specified conditions. Exempts a savings promotion raffle from the definition of “gambling.”
|
| Oregon |
H.B. 2893
Signed by governor 5/21/15, Chapter 137
|
Permits a financial institution to conduct a savings promotion raffle, subject to specified conditions. Exempts savings promotion raffles from the definition of “gambling.”
|
| Pennsylvania |
H.B. 837
Passed House 5/13/15
|
Authorizes certain financial institutions to conduct savings promotion raffles; and provides for enforcement by the Department of Banking and Securities. |
| Puerto Rico |
None |
|
| Rhode Island |
None |
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| South Carolina |
S.B. 652
Passed Senate 6/2/15
|
Authorizes financial institutions that do business in South Carolina to conduct savings promotion contests for members and customers of the financial institutions, subject to certain requirements, and authorizes the appropriate federal or state regulatory agency of each financial institution to oversee the conduct of the contests and issue cease and desist orders when necessary. |
| South Dakota |
None |
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| Tennessee |
None |
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| Texas |
H.B. 1628
Vetoed by governor 6/20/15
|
Amends the Finance Code to authorize a credit union or financial institution to conduct a savings promotion raffle if each ticket or token representing an entry in the raffle has an equal probability of being drawn and the raffle is conducted in a manner that does not jeopardize the ability of the credit union or financial institution to operate in a safe and sound manner and does not mislead the credit union's members or the financial institution's depositors, as applicable. The bill defines "savings promotion raffle" as a raffle conducted by a credit union or financial institution in which the sole action required for a chance of winning a designated prize is the deposit of at least a specified amount of money in a savings account or other savings program offered by the credit union or financial institution.
|
| Utah |
None |
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| Vermont |
None |
|
| Virginia |
H.B. 1487
Signed by governor 3/16/15, Chapter 154
S.B. 737
Signed by governor 2/26/15, Chapter 12
|
Authorizes banks, savings institutions, and credit unions to sponsor savings promotions, which are contests or promotions (i) conducted for the purposes of encouraging depositors to build and maintain savings deposits and (ii) in which depositors are provided a chance of winning designated prizes. |
| Virgin Islands |
None |
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| Washington |
None |
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| West Virginia |
None |
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| Wisconsin |
None |
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| Wyoming |
None |
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