House Bill 61

AN ACT TO AMEND SECTION 81-13-11, MISSISSIPPI CODE OF 1972, TO AUTHORIZE CREDIT UNIONS TO CONDUCT SAVINGS PROMOTION RAFFLES; TO DEFINE "SAVINGS PROMOTION RAFFLE" AS A RAFFLE CONDUCTED BY A CREDIT UNION WHERE THE SOLE CONSIDERATION REQUIRED FOR A CHANCE OF WINNING DESIGNATED PRIZES IS THE DEPOSIT OF AT LEAST A SPECIFIED AMOUNT OF MONEY IN A SAVINGS ACCOUNT OR OTHER SAVINGS PROGRAM OFFERED BY THE CREDIT UNION; TO PROVIDE THAT THE CREDIT UNION SHALL CONDUCT A SAVINGS PROMOTION RAFFLE SO THAT EACH TOKEN OR TICKET REPRESENTING AN ENTRY IN THE RAFFLE HAS AN EQUAL CHANCE OF BEING DRAWN; TO PROVIDE THAT A CREDIT UNION SHALL NOT CONDUCT A SAVINGS PROMOTION RAFFLE IN A MANNER THAT JEOPARDIZES THE CREDIT UNION'S SAFETY AND SOUNDNESS OR MISLEADS ITS MEMBERS; TO AUTHORIZE THE COMMISSIONER OF BANKING TO EXAMINE THE CONDUCT OF A SAVINGS PROMOTION RAFFLE, AND TO ISSUE CEASE AND DESIST ORDERS FOR VIOLATIONS OF THIS ACT; TO AMEND SECTIONS 97-33-31 THROUGH 97-33-49, MISSISSIPPI CODE OF 1972, TO EXEMPT SAVINGS PROMOTION RAFFLES CONDUCTED BY CREDIT UNIONS FROM THE CRIMINAL PROHIBITIONS AGAINST LOTTERIES AND RAFFLES; AND FOR RELATED PURPOSES.

In the House of Representatives

• John W. Hines, Sr.

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 6 – Mar 6

1. Feb 6Referred to the House committees on Banking and Financial Services and on Judiciary B
2. Mar 6Died in committee in the House