[§412:4-113] Savings promotion or prize-linked savings contest. (a) Any financial institution that is a depository institution may conduct a savings promotion or prize-linked savings contest if the depository institution:
(b) Deposits made by a consumer into a savings account or other savings program shall remain under the ownership of the consumer.
(c) A financial institution that offers a savings promotion or prize-linked savings contest shall comply with the requirements of the American Savings Promotion Act, Public Law 113-251, and the regulations promulgated by the federal prudential regulators of the financial institutions applicable to the savings promotion or prize-linked savings contest program.
(d) For the purposes of this section, "financial institution" shall have the same meaning as in section 412:1-109. [L 2019, c 253, §2]