{"data":{"id":"us-nj/n.j.-stat.-17-13-101.1","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:13-101.1","heading":"Savings promotion conducted by credit union.","body":"3. a. A credit union may conduct a savings promotion provided that the credit union:\n(1)\tconducts the promotion in a manner so as to ensure that each entry has an equal chance of winning the designated prize;\n(2)\tfully discloses the terms and conditions of the promotion to each of its account holders;\n(3)\tmaintains records sufficient to facilitate an audit of the promotion;\n(4)\tensures that only account holders 18 years of age and older are permitted to participate in the promotion;\n(5)\tdoes not require any consideration, other than the requirement that the participant deposit money into a savings account or other savings program to obtain entries in the promotion, to participate in the promotion; and\n(6)\toffers an interest rate and charges fees on any qualifying account that are approximately the same as those on a comparable non-qualifying account.\nb.\tFor the purposes of this section, \"savings promotion\" means a 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, and \"credit union\" means credit union as defined in section 2 of P.L.1984, c.171 (C.17:13-80).\nL.2015, c.236, s.3.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"ce4de1a6482b5b009b3fa544dabbc21245df7f137a6903d0db7a126429f465ac","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-13-101","next":"us-nj/n.j.-stat.-17-13-102"},"notice":"GroundRules: Original legal text. Not legal advice."}