New Jersey § 5:8-62
Full text of New Jersey New Jersey Statutes § 5:8-62, with citation guidance and answers to common questions.
§ 5:8-62.
No prize shall be offered and given in cash except as authorized by regulation promulgated
by the control commission. a. The aggregate retail value of all prizes to be offered and given by raffles held,
operated and conducted under any license issued under P.L.1954, c. 5 ( C. 5:8-50 et seq. ) in any calendar year shall not exceed $500,000.00, but the limit so fixed shall
not apply to any raffle with respect to which all tickets, shares or rights to participate
are sold only to persons present, the winners determined, and the prizes awarded,
on the same occasion or if the prizes are wholly donated. b. Notwithstanding the provisions of subsection a. of this section, the maximum prize
that may be offered and awarded in a golf hole-in-one contest shall not exceed $1,000,000.
Any prizes above $25,000 shall be offered and awarded only when the entire amount
is insured by a company licensed to conduct business in this State and approved by
the control commission. The prize shall be paid as an annuity with a payout over a maximum period of 20
years. Ancillary prizes awarded shall have an aggregate retail value no greater than that
provided by subsection a. of this section and shall also be subject to the provisions
of subsection c. of this section. c. No prize having a retail value greater than that prescribed by regulation promulgated
by the control commission shall be awarded in any raffle conducted by a drawing, or
for each spin of the wheel or other allotment by chance.
Frequently Asked Questions About New Jersey § 5:8-62
What does New Jersey Statutes § 5:8-62 cover?
Section 5:8-62 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 5:8-62?
A common citation format is "New Jersey Statutes § 5:8-62" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 5:8-62 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.