PUBLISHED

N.C.G.S. § 54-109.64

Savings promotion raffles.

Effective date: 2026-08-08
Last verified: 2026-08-09
Source: official source
Revision history: view all versions

A credit union may offer a savings promotion raffle in which the sole consideration required for a chance of winning designated prizes is the deposit of a minimum specified amount of money in a savings account or other savings program offered by the credit union. A credit union shall maintain records sufficient to facilitate an audit of the savings promotion raffle, shall conduct the savings promotion raffle in a safe and sound manner, and shall fully disclose the terms and conditions of the promotion to account holders and prospective account holders of the credit union. (2011146, s. 2.)