81 STAT.]
611
PUBLIC LAW 90-203-DEC. 15, 1967
SEC. 4. Title IV of the National Housing Act is amended by adding the following new section at the end: "SEC. 410. (a) An insured institution may not— " (1) deal in lottery tickets; "(2) deal in bets used as a means or substitute for participation in a lottery; "(3) announce, adA^ertise, or publicize the existence of any lottery; "(4) announce, advertise, or publicize the existence or identity of any participant or winner, as such, in a lottery. " (b) An insured institution may not permit— "(1) the use of any part of any of its own offices by any person for any purpose forbidden to the institution under subsection (a), or " (2) direct access by the public from any of its own offices to any premises used by any person for any purpose forbidden to the institution under subsection (a). "(c) As used in this section— "(1) The term 'deal in' includes making, taking, buying, selling, redeeming, or collecting. "(2) The term ^lottery' includes any arrangement whereby three or more persons (the 'participants') advance money or credit to another in exchange for the possibility or expectation that one or more but not all of the participants (the 'winners') will receive by reason of their advances more than the amounts they have advanced, the identity of the winners being determined by any means which includes— " ^ A) a random selection; " (B) a game, race, or contest; or " (C) any record or tabulation of the result of one or more events in which any participant has no interest except for its bearing upon the possibility that he may become a winner. "(3) The term 'lottery ticket' includes any right, privilege, or possibility (and any ticket, receipt, record, or other evidence of any such right, privilege, or possibility) of becoming a winner in a lottery. " (d) Nothing contained in this section prohibits an insured institution from accepting funds from, or performing any lawful services for, a State operating a lottery, or an officer or employee of that State who is charged with the administration of the lottery. "(e) The Federal Home Loan Bank Board shall prescribe such regulations as may be necessary to the strict enforcement of this section and the prevention of evasions thereof." SEC. 0. (a) Chapter 61 of title 18 of the United States Code is amended by adding the following new section at the end: "§1306. Participation by financial institutions "Whoever knowingly violates section 5136A of the Revised Statutes of the United States, section 9A of the Federal Reserve Act, section 20 of the Federal Deposit Insurance Act, or section 410 of the National Housing Act shall be fined not more than $1,000 or imprisoned not more than one year, or both." (b) The table of sections at the beginning of that chapter is amended by adding the following at the end:
National Housing Act, amendment. 48 Stat. 1255. 12 USC 17241730b.
Definitions.
Regulations.
Penalties. 62 Stat. 762. 18 USC 13011305.
1306. Participation by financial institutions."
SEC. 6. The amendments made by this Act shall take effect on April 1, 1968. Approved December 15, 1967.
Effective date.
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