SB279 Alabama 2017 Session

In Committee

Bill Summary

Sponsors

Shay Shelnutt

Session

Regular Session 2017

Title

Banking, savings promotion contests authorized, not gambling or lottery pursuant to Section 65 of Constitution

Description

This bill would authorize financial institutions that do business in the state to conduct savings promotion contests for members and customers of the financial institution for the purpose of encouraging depositors to maintain savings accounts and increase personal savings This bill would specify that the offering of a savings promotion contest is not a lottery within the meaning of the Constitution of Alabama of 1901 To authorize financial institutions that do business in the state to conduct savings promotion contests; to specify the conditions under which a financial institution may conduct a savings promotion contest; to authorize the appropriate federal or state regulatory agency of the financial institution to oversee the conduct of any savings promotion contest conducted by it; and to specify that the offering of a savings promotion contest does not constitute gambling or a lottery.

Subjects

Banking Department

Bill Actions

Action Date	Chamber	Action
May 17, 2017	S	Indefinitely Postponed
April 6, 2017	S	Banking and Insurance first Amendment Offered
April 6, 2017	S	Read for the second time and placed on the calendar 1 amendment
March 7, 2017	S	Read for the first time and referred to the Senate committee on Banking and Insurance

Bill Calendar

Type	Date	Location	Description
Hearing	April 5, 2017	Room 320 BILL ADDED at 00:00	Senate B&I Hearing
Hearing	April 5, 2017	Room 320 PH ADDED at 00:00	Senate B&I Hearing
Hearing	April 5, 2017	Room 320 at 00:00	Senate B&I Hearing

Bill Text

Download SB279 Alabama 2017 Session PDF

Bill Documents

Type	Link
Bill Text	SB279 Alabama 2017 Session - Introduced
Bill Amendments	Senate Banking and Insurance first Amendment Offered