We have heard of another local bank giving away a Hybrid vehicle for new accounts, and we thought, well we could do something like that too. What we are thinking about is coming up with a totally new account that we currently do not offer. It would consist of free online bill pay, that they would have to use atleast once a month, or they would be charged for it, free debit card, Online statements, of course all of this would be contingent upon a recurring direct deposit. I have searched BOL top to bottom and can not find what I am looking for exactly. What we are wanting to do, is that with each of these new accounts that are opened, at each of our branches (3) the customers name will be placed in a raffle for a Scooter valued at around $1600. I know that there are exceptions to every rule, I just can not seem to find this one. If another bank is able to give away a hybrid car which is valued atleast 10 times what this is, how can we do this also? Any help is appreciated in advance. Thanks.

If you are a state bank you need to be talking to your Dept. of Financial Institutions or its equivalent to find out about your states raffle and/or lottery statutes. If you are a national bank you will want to review 12 U.S.C. §25a, which prohibits lottery activities by national banks.

Found a link to the rules for the aforementioned bank's hybrid contest giveaway. Comments?

You might want to make a call to the AR State Attorney General and see want they think and how the application of State law would impact this promotion. I think it is violation as the entrants are required to be customers.

5-66-119. Lottery - Promotion through sales.

(1) Any person who in this state, directly or indirectly, sets up, promotes, engages in, or in any manner participates in any plan, scheme, device, or other means, either alone or in concert with any other person, firm, or corporation, either within or without the State of Arkansas, in which goods, property, or any other thing of value is sold to any person, firm, or corporation for any consideration, either cash or otherwise, and upon the further consideration that the purchaser agrees to obtain one (1) or more persons to participate in the plan, scheme, device, or other means by making a similar purchase and a similar agreement to secure one (1) or more other persons to participate in the plan, scheme, device, or other means in the same manner, each purchaser being given the right to obtain money, credits, goods, or some other thing of value, depending upon the number of persons joining in or participating in the plan, scheme, device, or other means, is declared to have set up, promoted, engaged in, or participated in a lottery, which is declared to be unlawful.

What about Oklahoma????