March 18, 2014, Introduced by Reps. Jenkins, Yonker, Kelly, Somerville, Franz and Pettalia and referred to the Committee on Financial Services.
A bill to amend 1931 PA 328, entitled
"The Michigan penal code,"
by amending sections 315a and 376a (MCL 750.315a and 750.376a), as
amended by 2003 PA 217.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 315a. This chapter does not apply to a savings promotion
raffle
conducted by a domestic credit union pursuant to under
section 411 of the credit union act, 2003 PA 215, MCL 490.411, to a
savings promotion raffle conducted by a state bank under section
4111 of the banking code of 1999, 1999 PA 276, MCL 487.14111, or to
a savings promotion raffle conducted by a federally chartered
credit
union, a state or nationally chartered national bank, or a
state
or federally chartered savings and
loan association that is
conducted in the same manner as a raffle conducted by a domestic
credit union under section 411 of the credit union act, 2003 PA
215, MCL 490.411.
Sec.
376a. This chapter shall does
not apply to a savings
promotion
raffle conducted by a domestic credit union pursuant to
under section 411 of the credit union act, 2003 PA 215, MCL
490.411, to a savings promotion raffle conducted by a state bank
under section 4111 of the banking code of 1999, 1999 PA 276, MCL
487.14111, or to a savings promotion raffle conducted by a
federally
chartered credit union, a state or nationally chartered
national bank, or a state or federally chartered
savings and loan
association that is conducted in the same manner as a raffle
conducted by a domestic credit union under section 411 of the
credit union act, 2003 PA 215, MCL 490.411.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No. ____ or House Bill No. 5412 (request no.
05204'14) of the 97th Legislature is enacted into law.