# Mass. Gen. Laws ch. 171, sec. 6B: Savings promotion raffles

> Massachusetts · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6B

## Section

- **Citation:** Mass. Gen. Laws ch. 171, sec. 6B
- **Heading:** Savings promotion raffles
- **Jurisdiction:** Massachusetts
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MA Code / Part I / Title XXII / Chapter 171 / Section 6B

## Text

Section 6B. (a) For the purposes of this section, the term ''savings promotion raffle'' shall mean a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program where each ticket or entry has an equal chance of being drawn and where the contest is subject to regulations that may be promulgated by the appropriate federal regulatory agency, as defined by 12 U.S.C. 5481. (b) A credit union may receive deposits in conjunction with a savings promotion raffle pursuant to the federal American Savings Promotion Act, Public Law 113–251. A savings promotion raffle conducted pursuant to this section shall not be a violation of section 7 of chapter 271. (c) The commissioner shall promulgate regulations necessary to implement and administer this section.

Section 6B. (a) For the purposes of this section, the term ''savings promotion raffle'' shall mean a contest in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or other savings program where each ticket or entry has an equal chance of being drawn and where the contest is subject to regulations that may be promulgated by the appropriate federal regulatory agency, as defined by 12 U.S.C. 5481.

(b) A credit union may receive deposits in conjunction with a savings promotion raffle pursuant to the federal American Savings Promotion Act, Public Law 113–251. A savings promotion raffle conducted pursuant to this section shall not be a violation of section 7 of chapter 271.

(c) The commissioner shall promulgate regulations necessary to implement and administer this section.

## Nearby sections

- [Mass. Gen. Laws ch. 171, sec. 1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S1.md)
- [Mass. Gen. Laws ch. 171, sec. 2 Incorporation; agreement of association](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S2.md)
- [Mass. Gen. Laws ch. 171, sec. 3 Notice to commissioner; investigation fee](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S3.md)
- [Mass. Gen. Laws ch. 171, sec. 4 First meeting of incorporators; notice](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S4.md)
- [Mass. Gen. Laws ch. 171, sec. 5 Articles of organization; certificate of incorporation](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S5.md)
- [Mass. Gen. Laws ch. 171, sec. 6 Transaction of business; authorization; approval of by-laws; failure to commence](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6.md)
- [Mass. Gen. Laws ch. 171, sec. 6A Powers and permissible activities; regulations](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6A.md)
- [Mass. Gen. Laws ch. 171, sec. 6B Savings promotion raffles](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6B.md)
- [Mass. Gen. Laws ch. 171, sec. 7 Use of words ''credit union'' restricted; penalties](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S7.md)
- [Mass. Gen. Laws ch. 171, sec. 8 Location changes; branches and depots; consolidations or mergers; mobile branch banking](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8.md)
- [Mass. Gen. Laws ch. 171, sec. 8A Purchase, establishment, installation, etc. of electronic branches; location; safeguards](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8A.md)
- [Mass. Gen. Laws ch. 171, sec. 8B Educational credit union, student savings deposit and school branch office programs](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8B.md)
- [Mass. Gen. Laws ch. 171, sec. 8C Application by foreign credit union or out-of-state federal credit union to establish new branch in the commonwealth](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8C.md)
- [Mass. Gen. Laws ch. 171, sec. 8D Examination of affairs of foreign credit union or out-of-state federal credit union](https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S8D.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MA_PI_TXXII_C171_S6B. Check the current official text before relying on it. Not legal advice.