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MI HB5413

Bill

Official Source

Status

Passed

12/30/2014

Primary Sponsor

Nancy Jenkins-Arno

Click for details

Origin

House of Representatives

97th Legislature

AI Summary

  • Amends sections 315a and 376a of the Michigan Criminal Code (1931 PA 328) to exclude savings promotion raffles from gambling and lottery crime prohibitions
  • Exempts savings promotion raffles conducted by domestic credit unions under section 411 of the Credit Union Act (2003 PA 215)
  • Exempts savings promotion raffles conducted by state banks under section 4111 of the Banking Code of 1999 (1999 PA 276)
  • Exempts savings promotion raffles conducted by federally chartered credit unions, national banks, and federally chartered savings and loan associations that follow the same procedures as domestic credit unions
  • Act takes effect only if House Bill No. 5412 of the 97th Legislature is also enacted into law

Legislative Description

Crimes; gambling; exclusion of savings promotion raffles by state banks from gambling and lottery crimes; clarify. Amends secs. 315a & 376a of 1931 PA 328 (MCL 750.315a & 750.376a). TIE BAR WITH: HB 5412'14

Financial institutions, banks

Last Action

Assigned Pa 400'14 With Immediate Effect

12/30/2014

Committee Referrals

Banking & Financial Institutions9/30/2014
Financial Services3/18/2014

Full Bill Text

No bill text available