12 U.S.C. § 339 — Participation by State member banks in

Page 120 TITLE 12—BANKS AND BANKING § 339 1 So in original. The word ‘‘or’’ probably should appear. 1 See References in Text note below. Pub. L. 109–173, in fourth sentence, substituted ‘‘De- posit Insurance Fund’’ for ‘‘affected deposit insurance fund’’. Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(8). See 1996 Amendment note below. 1996—Pub. L. 104—208, § 2704(d)(8), which directed the amendment of the fourth sentence by substituting ‘‘De- posit Insurance Fund’’ for ‘‘affected deposit insurance fund’’, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amend- ment note above. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2006 AMENDMENT Amendment by Pub. L. 109–173 effective Mar. 31, 2006, see section 9(j) of Pub. L. 109–173, set out as a note under section 24 of this title. Amendment by Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title. EFFECTIVE DATE OF 1996 AMENDMENT Amendment by Pub. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings asso- ciation on that date, see section 2704(c) of Pub. L. 104–208, formerly set out as a note under section 1821 of this title. § 339. Participation by State member banks in lotteries and related activities (a) Prohibited activities A State member bank may not— (1) deal in lottery tickets; (2) deal in bets used as a means or substitute for participation in a lottery; (3) announce, advertise, or publicize the ex- istence of any lottery; 1 (4) announce, advertise, or publicize the ex- istence or identity of any participant or win- ner, as such, in a lottery. (b) Use of banking premises prohibited A State member bank may not permit— (1) the use of any part of any of its banking offices by any person for any purpose forbid- den to the bank under subsection (a), or (2) direct access by the public from any of its banking offices to any premises used by any person for any purpose forbidden to the bank under subsection (a). (c) Definitions As used in this section— (1) The term ‘‘deal in’’ includes making, tak- ing, buying, selling, redeeming, or collecting. (2) The term ‘‘lottery’’ includes any arrange- ment, other than a savings promotion raffle, whereby three or more persons (the ‘‘partici- pants’’) advance money or credit to another in exchange for the possibility or expectation that one or more but not all of the partici- pants (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 in- cludes— (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 partici- pant 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. (4) The term ‘‘savings promotion raffle’’ means a contest in which the sole consider- ation required for a chance of winning des- ignated prizes is obtained by the deposit of a specified amount of money in a savings ac- count or other savings program, where each ticket or entry has an equal chance of being drawn, such contest being subject to regula- tions that may from time to time be promul- gated by the appropriate prudential regulator (as defined in section 5481 of this title). (d) Lawful banking services connected with op- eration of lottery Nothing contained in this section prohibits a State member bank from accepting deposits or cashing or otherwise handling checks or other negotiable instruments, or performing other lawful banking services for a State operating a lottery, or for an officer or employee of that State who is charged with the administration of the lottery. (e) Regulations; enforcement The Board of Governors of the Federal Reserve System shall issue such regulations as may be necessary to the strict enforcement of this sec- tion and the prevention of evasions thereof. (Dec. 13, 1913, ch. 6, § 9A, as added Pub. L. 90–203, § 2, Dec. 15, 1967, 81 Stat. 609; amended Pub. L. 113–251, § 3(b), Dec. 18, 2014, 128 Stat. 2889.) Editorial Notes CODIFICATION Section was enacted as section 9A of act Dec. 13, 1913, and not as part of section 9 of such act which comprises this subchapter. AMENDMENTS 2014—Subsec. (c)(2). Pub. L. 113–251, § 3(b)(1), inserted ‘‘, other than a savings promotion raffle,’’ before ‘‘whereby’’ in introductory provisions. Subsec. (c)(4). Pub. L. 113–251, § 3(b)(2), added par. (4). Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Apr. 1, 1968, see section 6 of Pub. L. 90–203, set out as a note under section 25a of this title. § 339a. Resolution of clearing banks (a) Conservatorship or receivership (1) Appointment The Board may appoint a conservator or re- ceiver to take possession and control of any uninsured State member bank which operates, or operates as, a multilateral clearing organi- zation pursuant to section 4422 1 of this title to the same extent and in the same manner as