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Hawaii Revised Statutes Division 5. Crimes and Criminal Proceedings § 712-1232

Current as of January 01, 2022 | Updated by FindLaw Staff

A savings promotion or prize-linked savings contest conducted by a financial institution pursuant to section 412:4-113 is not gambling and shall not constitute a lottery unless the chance to win a prize requires consideration. Consideration shall not include:

(1) The deposit of a specified minimum amount of money into a savings promotion or prize-linked savings account that results in an entry in a savings promotion or prize-linked savings contest;

(2) The interest earned, if any, on the consumer's savings promotion or prize-linked savings account; or

(3) Any fee or amount to administer or maintain the savings promotion or prize-linked savings account.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 5. Crimes and Criminal Proceedings § 712-1232 - last updated January 01, 2022 | https://codes.findlaw.com/hi/division-5-crimes-and-criminal-proceedings/hi-rev-st-sect-712-1232/

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