[ §712-1232] Savings promotion or prize-linked savings contest not gambling. 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. [L 2019, c 253, §3]
‹ Prev All Hawaii sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.