Federal Reserve Act
Section 9A. Participation in Lotteries Prohibited(a) A State member bank may not--
- deal in lottery tickets;
- deal in bets used as a means or substitute for participation in a lottery;
- announce, advertise, or publicize the existence of any lottery;
- announce, advertise, or publicize the existence or identity of any participant or winner, as such, in a lottery.
- the use of any part of any of its banking offices by any person for any purpose forbidden to the bank under subsection (a), or
- direct access by the public from any of its banking offices to any premises used by any person for any purpose forbidden to the bank under subsection (a).
- The term "deal in" includes making, taking, buying, selling, redeeming, or collecting.
- The term "lottery" includes any arrangement whereby three or more persons (the "participants") advance money or credit to another in exchange for the possibility or expectation that one or more but not all of the participants (the "winners") will receive by reason of their advances more than the amounts they have advanced, the identity of the winners being determined by any means which includes--
- a random selection;
- a game, race, or contest; or
- any record or tabulation of the result of one or more events in which any participant has no interest except for its bearing upon the possibility that he may become a winner.
- The term "lottery ticket" includes any right, privilege, or possibility (and any ticket, receipt, record, or other evidence of any such right, privilege, or possibility) of becoming a winner in a lottery.
[12 USC 339. As added by act of Dec. 15, 1967 (81 Stat. 609) effective April 1, 1968. Corresponding prohibitions are contained in section 5136B of the Revised Statutes, section 20 of the Federal Deposit Insurance Act, and section 410 of the National Housing Act with respect to national banks, nonmember insured banks, and institutions insured by the Federal Savings and Loan Insurance Corporation, respectively.]