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609.761.6
Statute ID:
15847
Statute Function ID:
33749
Gambling-Operations Permitted; Saving Promotion Raffle
In Effect
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Function Details
History
Text
Details are only available for Penalty and Charging Statutes.
Statute Number:
609.761.6
Enactment Date:
May 14, 2015
Effective Date:
Aug 1, 2015
Expiration Date:
Repealed?:
No
Summary Text:
Gambling-Operations Permitted; Saving Promotion Raffle
Statute ID:
15847
Created:
Jul 14, 2015 by mnjis.legal.analyst@state.mn.us
Updated:
Jul 14, 2015 by mnjis.legal.analyst@state.mn.us
Last Update Action:
Added
Legal Analyst Comment:
New 2105 c 29 s 8; Definition; Exception to 609.755 and 609.76
Summary Text:
Gambling-Operations Permitted; Saving Promotion Raffle
Link to MN Statute Text:
https://www.revisor.leg.state.mn.us/stats/609/761.html
Legislative Session:
2015 - Regular
Session Law Text?:
No
Statute text last updated on:
Jul 14, 2015
Sections 609.755 and 609.76 do not prohibit the conduct of or participation in a savings promotion raffle, as defined in section 609.75, subdivision 14, if the following conditions are complied with: (1) participants in a savings promotion raffle shall not be required to provide any consideration, other than the deposit of a sum of money in a qualifying account, to obtain chances to win prizes in a savings promotion raffle. For purposes of this clause, participants shall not be deemed to have provided such consideration merely because the interest rate, if any, associated with a qualifying account is lower than the interest rate associated with comparable nonqualifying accounts. Participants shall not be deemed to have given consideration as a consequence of paying any fees associated with a qualifying account, so long as such fees are approximately of a kind and in an amount charged in connection with comparable nonqualifying accounts, if any, offered by the savings promotion raffle sponsor; (2) a savings promotion raffle shall be conducted so that each entry in the savings promotion raffle has an equal chance of being drawn; and (3) participants in a savings promotion raffle shall not be required to be present at a prize drawing in order to win.
