Section 933 - Prize linked savings programs(a)For purposes of this section "savings promotion raffle" means a raffle conducted by a bank or credit union doing business in Delaware where the sole action required for a chance of winning designated prizes is the deposit of a minimum specified amount of money in a savings account or other savings program.(b)Any bank or credit union doing business in this state may conduct a savings promotion raffle provided that the bank or credit union: (1)Conducts the savings promotion raffle in a manner that ensures that each entry has an equal chance of winning the designated prize;(2)Fully discloses the terms and conditions of the savings promotion raffle to each of its account holders;(3)Offers an interest rate that is commensurate with the interest rate the bank or credit union offers on comparable savings accounts or savings programs that are not subject to a savings promotion raffle; and(4)Maintains records sufficient to facilitate an audit of such savings promotion raffle.(c)A savings promotion raffle is not a lottery for purposes of Chapter 48 of Title 29.Added by Laws 2017, ch. 13,s 1, eff. 5/2/2017.