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Home » US Law » 2022 Code of Alabama » Title 5 - Banks and Financial Institutions. » Chapter 27 - Savings Promotion Contest » Section 5-27-5 – (Effective January 1, 2018) Construction; Limitation on Prizes or Awards.

Section 5-27-5

(Effective January 1, 2018) Construction; limitation on prizes or awards.

A savings promotion contest offered pursuant to this chapter does not constitute gambling or the promotion of gambling or a lottery or raffle pursuant to Section 65 of the Constitution of Alabama of 1901. No prize or award shall exceed twelve thousand five hundred dollars ($12,500).

(Act 2017-406, §5.)