12 U.S.C. § 25a — Participation by national banks in lotteries and related activities
submitted 59 years ago by Pub. L. 90-203 to r/title-12-BANKS-AND-BANKING · 464 words · no verdicts yet
A national bank can't deal in lottery tickets, take lottery bets, or advertise a lottery or its winners. It also can't let anyone run a lottery from its banking offices or give the public direct access to a lottery business there. Banks may still handle normal banking services for a state that runs its own lottery.
A national bank may not—
deal in lottery tickets;
deal in bets used as a means or substitute for participation in a lottery;
announce, advertise, or publicize the existence of any lottery; 1
announce, advertise, or publicize the existence or identity of any participant or winner, as such, in a lottery.
A national bank may not permit—
the use of any part of any of its banking offices by any person* for any purpose forbidden to the bank under subsection (a), or
direct access by the public from any of its banking offices to any premises used by any person for any purpose forbidden to the bank under subsection (a).
As used in this section—
The term “deal in” includes making, taking, buying, selling, redeeming, or collecting.
The term “lottery” includes any arrangement, other than a savings promotion raffle, whereby three or more persons (the “participants”) advance money or credit* to another in exchange for the possibility or expectation that one or more but not all of the participants (the “winners”) will receive by reason of their advances more than the amounts they have advanced, the identity of the winners being determined by any means which includes—
a random selection;
a game, race, or contest; or
any record or tabulation of the result of one or more events in which any participant has no interest except for its bearing upon the possibility that he may become a winner.
The term “lottery ticket” includes any right, privilege, or possibility (and any ticket, receipt, record, or other evidence of any such right, privilege, or possibility) of becoming a winner in a lottery.
The term “savings promotion raffle” means a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator* (as defined in section 5481 of this title).
Nothing contained in this section prohibits a national bank from accepting deposits or cashing or otherwise handling checks or other negotiable instruments, or performing other lawful banking services for a State* operating a lottery, or for an officer or employee of that State who is charged with the administration of the lottery.
The Comptroller of the Currency shall issue such regulations as may be necessary to the strict enforcement of this section and the prevention of evasions thereof.
Source credit: (R.S. § 5136B, formerly § 5136A, as added Pub. L. 90–203, § 1(a), Dec. 15, 1967, 81 Stat. 608; renumbered R.S. § 5136B, Pub. L. 106–102, title I, § 121(a)(1), Nov. 12, 1999, 113 Stat. 1373; amended Pub. L. 113–251, § 3(a), Dec. 18, 2014, 128 Stat. 2889.)
- 1967Enacted · Pub. L. 90-203 · 81 Stat. 608
- 1999Amended · Pub. L. 106-102 · 113 Stat. 1373
- 2014Amended · Pub. L. 113-251 · 128 Stat. 2889
A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-203 on 1967-12-15.
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