Title 18 — Crimes and Criminal ProcedureRelease 119-73

§1308 Limitation of applicability

Title 18 › Part PART I— - CRIMES › Chapter CHAPTER 61— - LOTTERIES › § 1308

Last updated Apr 6, 2026|Official source

Summary

Stops sections 1301, 1302, 1303, 1304, and 1306 from applying to savings promotion raffles run by insured depository institutions or insured credit unions. It also covers related actions like advertising the raffle, taking or making deposits and withdrawals for the raffle, sending account or transaction info related to it, and paying out or announcing prizes. Insured credit union: meaning in section 101 of the Federal Credit Union Act (12 U.S.C. 1752). Insured depository institution: meaning in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). Savings promotion raffle: a contest where the only cost to enter is depositing a set amount into a savings account or program, each entry has an equal chance, and it is subject to rules set by the appropriate prudential regulator (see section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481)).

Full Legal Text

Title 18, §1308

Crimes and Criminal Procedure — Source: USLM XML via OLRC

(a)section 1301, 1302, 1303, 1304, and 1306 shall not apply—

(1)to a savings promotion raffle conducted by an insured depository institution or an insured credit union; or

(2)to any activity conducted in connection with any such savings promotion raffle, including, without limitation, to the—

(A)transmission of any advertisement, list of prizes, or other information concerning the savings promotion raffle;

(B)offering, facilitation, and acceptance of deposits, withdrawals, or other transactions in connection with the savings promotion raffle;

(C)transmission of any information relating to the savings promotion raffle, including account balance and transaction information; and

(D)deposit or transmission of prizes awarded in the savings promotion raffle as well as notification or publication thereof.

(b)In this section—

(1)the term “insured credit union” shall have the meaning given the term in section 101 of the Federal Credit Union Act (12 U.S.C. 1752);

(2)the term “insured depository institution” shall have the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813); and

(3)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 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481)).

Reference

Citations & Metadata

Citation

18 U.S.C. § 1308

Title 18 — Crimes and Criminal Procedure

Last Updated

Apr 6, 2026

Release point: 119-73