PUBLISHED

N.C.G.S. § 54B-140

Savings promotion raffles.

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

A savings and loan association 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 savings and loan association. A savings and loan association 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 savings and loan association. (2019-173, s. 2(c).)