54-109.64. Savings promotion raffles.
A credit union may offer a savings promotion raffle in which the sole consideration required for a chance of winning designated prizes is the deposit of a minimum specified amount of money in a savings account or other savings program offered by the credit union. A credit union shall maintain records sufficient to facilitate an audit of the savings promotion raffle, shall conduct the savings promotion raffle in a safe and sound manner, and shall fully disclose the terms and conditions of the promotion to account holders and prospective account holders of the credit union. (2011 146, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54 - Cooperative Organizations
Article 14F - Savings Accounts.
§ 54-109.56 - Thrift accounts.
§ 54-109.57A - Payable on Death (POD) accounts.
§ 54-109.60B - Accounts opened by adults for minors.
§ 54-109.61 - Reduction in shares.
§ 54-109.62A - Powers of attorney; notice of revocation; payment after notice.