Md. Code, Financial Institutions § 1-211

(a) (1) In this section the following words have the meanings indicated.

(2) “Depository institution” means a financial institution that:

(i) Is located in this State or maintains a branch in this State; and

(ii) Is authorized to maintain qualifying accounts.

(3) “Eligible customer” means an individual who:

(i) Maintains a qualifying account at a depository institution;

(ii) Is an adult; and

(iii) Is a resident of this State.

(4) “Qualifying account” means a savings account, share account, or other savings product or program:

(i) Offered by a depository institution;

(ii) Insured by the Federal Deposit Insurance Corporation, the National Credit Union Administration, or a credit union share guaranty corporation that is approved by the Commissioner; and

(iii) Through which eligible customers may obtain chances to win prizes in a savings promotion raffle.

(5) “Savings promotion raffle” means a contest in which:

(i) The sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a qualifying account; and

(ii) Each ticket or entry has an equal chance of being drawn.

(b) A depository institution may conduct a savings promotion raffle for the exclusive benefit of eligible customers if:

(1) The depository institution maintains books and records relating to the savings promotion raffle; and

(2) The savings promotion raffle will not:

(i) Harm the depository institution’s ability to operate in a safe and sound manner; or

(ii) Mislead the depository institution’s customers.

(c) Except as preempted by federal law, the Commissioner may:

(1) Examine the conduct of a savings promotion raffle; and

(2) Issue a cease and desist order under § 5–808 of this article for a violation of this section.