SB-0752, As Passed Senate, March 9, 2016
February 4, 2016, Introduced by Senators MACGREGOR and BOOHER and referred to the Committee on Banking and Financial Institutions.
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 2014 PA 400.
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 under section 411 of
the credit union act, 2003 PA 215, MCL 490.411, to a loan promotion
raffle or 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 national bank, or a 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 does not apply to a savings promotion
raffle conducted by a domestic credit union under section 411 of
the credit union act, 2003 PA 215, MCL 490.411, to a loan promotion
raffle or 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 national bank, or a 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 takes effect 90 days
after the date it is enacted into law.
Enacting section 2. This amendatory act does not take effect
unless Senate Bill No. 751
of the 98th Legislature is enacted into law.