§ 339. — Participation by State member banks in lotteries and related activities.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC339]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER VIII--STATE BANKS AS MEMBERS OF SYSTEM
Sec. 339. Participation by State member banks in lotteries and
related activities
(a) Prohibited activities
A State member bank may not--
(1) deal in lottery tickets;
(2) deal in bets used as a means or substitute for participation
in a lottery;
(3) announce, advertise, or publicize the existence of any
lottery;
(4) announce, advertise, or publicize the existence or identity
of any participant or winner, as such, in a lottery.
(b) Use of banking premises prohibited
A State member bank may not permit--
(1) the use of any part of any of its banking offices by any
person for any purpose forbidden to the bank under subsection (a) of
this section, or
(2) 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) of this section.
(c) Definitions
As used in this section--
(1) The term ``deal in'' includes making, taking, buying,
selling, redeeming, or collecting.
(2) 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) a random selection;
(B) a game, race, or contest; or
(C) 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.
(3) 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.
(d) Lawful banking services connected with operation of lottery
Nothing contained in this section prohibits a State member bank from
accepting deposits or cashing or otherwise handling checks or other
negotiable instruments, or performing other lawful banking services for
a State operating a lottery, or for an officer or employee of that State
who is charged with the administration of the lottery.
(e) Regulations; enforcement
The Board of Governors of the Federal Reserve System shall issue
such regulations as may be necessary to the strict enforcement of this
section and the prevention of evasions thereof.
(Dec. 13, 1913, ch. 6, Sec. 9A, as added Pub. L. 90-203, Sec. 2, Dec.
15, 1967, 81 Stat. 609.)
Codification
Section was enacted as section 9A of act Dec. 13, 1913, and not as
part of section 9 of such act which comprises this subchapter.
Effective Date
Section effective Apr. 1, 1968, see section 6 of Pub. L. 90-203, set
out as a note under section 25a of this title.
Section Referred to in Other Sections
This section is referred to in title 18 section 1306.
