North Carolina § 53C-6-20 - Savings promotion raffles.
Full text of North Carolina North Carolina General Statutes § 53C-6-20 — Savings promotion raffles., with citation guidance and answers to common questions.
§ 53C-6-20. Savings promotion raffles.
A bank may offer a savings promotion 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 offered by the bank. A bank shall maintain records sufficient to facilitate an audit of the savings promotion raffle, shall conduct the savings promotion raffle in a safe and sound manner, and shall fully disclose the terms and conditions of the promotion to account holders and prospective account holders of the bank. History (2019-173, s. 2(b).) Editor's Note. - Session Laws 2019-173, s. 2(e), made this section effective December 1, 2019, and applicable to raffles conducted on or after that date.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53C-6-20
What does North Carolina General Statutes § 53C-6-20 cover?
Section 53C-6-20 ("Savings promotion raffles.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. 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 North Carolina § 53C-6-20?
A common citation format is "North Carolina General Statutes § 53C-6-20" (North Carolina). 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 North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 53C-6-20 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina 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 North Carolina.