American Savings Promotion Act

The American Savings Promotion Act (H.R. 3374; Pub.L. 113–251 (text) (pdf)) is a United States federal statute that authorizes some financial institutions to conduct a contest, known as a "savings promotion raffle," 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 program, where each ticket or entry has an equal chance of being drawn.

American Savings Promotion Act

The American Savings Promotion Act (H.R. 3374; Pub.L. 113–251 (text) (pdf)) is a United States federal statute that authorizes some financial institutions to conduct a contest, known as a "savings promotion raffle," 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 program, where each ticket or entry has an equal chance of being drawn.