Georgia Code Title 7. Banking and Finance § 7-1-239.10

(1) “Bank” means a national bank or a state chartered bank, regardless of which state issued the charter, that has federal deposit insurance.

(2) “Credit union” means a federally chartered credit union or a state chartered credit union, regardless of which state issued the charter, that has federal deposit insurance.

(3) “Savings promotion raffle” means a contest in which the sole consideration required for a chance of winning a designated prize is obtained by the deposit of a specified amount of money in a savings account or other savings program offered by a bank or credit union, where each ticket or entry has an equal chance of being drawn.

(1) Jeopardize the ability of the bank or credit union conducting the savings promotion raffle to operate in a safe and sound manner; or

(2) Mislead depositors about the chances of winning.

(1) Shall provide each person making a deposit in a savings promotion raffle account with information regarding:

(2) Shall not charge any fees associated with the underlying savings account or other savings program in excess of the fees charged for the savings account or other savings program offered by the bank or credit union that is the most similar to such savings promotion raffle account;

(3) May contract for and use the services of a third-party service provider to handle the administrative details of conducting a savings promotion raffle; and

(4) Shall maintain all records the department determines are necessary to conduct an examination or audit of a savings promotion raffle.