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NC S513
Bill
AI Summary
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Amend G.S. 14-309.15 to make it lawful for credit unions to conduct savings promotion raffles under G.S. 54-109.64.
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Allow credit unions to offer savings promotion raffles where the sole consideration for entry is depositing a minimum specified amount of money into a savings account or savings program.
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Require credit unions conducting savings promotion raffles to maintain audit records, operate in a safe and sound manner, and fully disclose all terms and conditions to account holders and prospective members.
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Effective October 1, 2011.
Legislative Description
Allow Savings Promotion Raffles
Last Action
Ch. SL 2011-146
6/16/2011
Committee Referrals
Banking5/16/2011
Commerce4/6/2011
Full Bill Text
No bill text available