(d)
For purposes of this section—
(1) the term “foreign country” means any empire, country, dominion, colony, or protectorate, or any subdivision thereof (other than the United States, its territories or possessions);
(2) the term “insured credit union” shall have the meaning given the term in section 101 of the Federal Credit Union Act (12 U.S.C. 1752);
(3) the term “insured depository institution” shall have the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(4)
(A) means the pooling of proceeds derived from the sale of tickets or chances and allotting those proceeds or parts thereof by chance to one or more chance takers or ticket purchasers; and
(B) does not include the placing or accepting of bets or wagers on sporting events or contests;
(5) the term “savings promotion raffle” means a contest 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 other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regulations that may from time to time be promulgated by the appropriate prudential regulator (as defined in section 1002 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481)); and
(6) the term “State” means a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States.
Amendments
2014—Subsec. (b). Pub. L. 113–251, § 5(2)(A), substituted “(5) equipment, tickets, or materials used or designed for use in a savings promotion raffle operated by an insured depository institution or an insured credit union, or (6)” for “or (5)”.
Subsecs. (d), (e). Pub. L. 113–251, § 5(2)(B), added subsec. (d) and struck out former subsecs. (d) and (e) which read as follows:
“(d) For the purposes of this section (1) ‘State’ means a State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States; and (2) ‘foreign country’ means any empire, country, dominion, colony, or protectorate, or any subdivision thereof (other than the United States, its territories or possessions).
“(e) For the purposes of this section ‘lottery’ means the pooling of proceeds derived from the sale of tickets or chances and allotting those proceeds or parts thereof by chance to one or more chance takers or ticket purchasers. ‘Lottery’ does not include the placing or accepting of bets or wagers on sporting events or contests.”
1994—Subsec. (a). Pub. L. 103–322 substituted “fined under this title” for “fined not more than $10,000”.
1979—Subsec. (b)(5). Pub. L. 96–90, § 2(1), added cl. (5).
Subsecs. (d), (e). Pub. L. 96–90, § 2(2), added subsecs. (d) and (e).
1975—Subsec. (b)(4). Pub. L. 93–583 added cl. (4).
