CT SB00372

Expands savings promotion raffles to include all banks defined in section 36a-2, not just community banks, in addition to Connecticut credit unions.

Allows Connecticut credit unions and banks with secure financial integrity (as determined by the Banking Commissioner) to conduct savings promotion raffles where deposits into savings accounts are the sole consideration for entry.

Requires raffles to ensure equal chances of winning for each entry, fully disclose terms and conditions to account holders, and maintain auditable records.

Restricts participation to share or deposit account holders who are at least 18 years of age.

Authorizes the Banking Commissioner to adopt regulations under chapter 54 to implement the provisions of this section.