Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5362&num=0&edition=prelim
Timestamp: 2019-07-21 07:16:14
Document Index: 429613256

Matched Legal Cases: ['§ 5362', '§5362', '§802', '§1', '§3001', '§1171', '§2701']

[USC02] 31 USC 5362: Definitions
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31 USC 5362: Definitions Text contains those laws in effect on July 20, 2019
From Title 31-MONEY AND FINANCESUBTITLE IV-MONEYCHAPTER 53-MONETARY TRANSACTIONSSUBCHAPTER IV-PROHIBITION ON FUNDING OF UNLAWFUL INTERNET GAMBLING
§5362. Definitions
(1) Bet or wager.-The term "bet or wager"-
(i) any activity governed by the securities laws (as that term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 1 for the purchase or sale of securities (as that term is defined in section 3(a)(10) of that Act);
(iv) any other transaction that-
(viii) participation in any game or contest in which participants do not stake or risk anything of value other than-
(III) No winning outcome is based-
(2) Business of betting or wagering.-The term "business of betting or wagering" does not include the activities of a financial transaction provider, or any interactive computer service or telecommunications service.
(3) Designated payment system.-The term "designated payment system" means any system utilized by a financial transaction provider that the Secretary and the Board of Governors of the Federal Reserve System, in consultation with the Attorney General, jointly determine, by regulation or order, could be utilized in connection with, or to facilitate, any restricted transaction.
(4) Financial transaction provider.-The term "financial transaction provider" means a creditor, credit card issuer, financial institution, operator of a terminal at which an electronic fund transfer may be initiated, money transmitting business, or international, national, regional, or local payment network utilized to effect a credit transaction, electronic fund transfer, stored value product transaction, or money transmitting service, or a participant in such network, or other participant in a designated payment system.
(5) Internet.-The term "Internet" means the international computer network of interoperable packet switched data networks.
(6) Interactive computer service.-The term "interactive computer service" has the meaning given the term in section 230(f) of the Communications Act of 1934 (47 U.S.C. 230(f)).
(7) Restricted transaction.-The term "restricted transaction" means any transaction or transmittal involving any credit, funds, instrument, or proceeds described in any paragraph of section 5363 which the recipient is prohibited from accepting under section 5363.
(8) Secretary.-The term "Secretary" means the Secretary of the Treasury.
(9) State.-The term "State" means any State of the United States, the District of Columbia, or any commonwealth, territory, or other possession of the United States.
(10) Unlawful internet gambling.-
(A) In general.-The term "unlawful Internet gambling" means to place, receive, or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received, or otherwise made.
(B) Intrastate transactions.-The term "unlawful Internet gambling" does not include placing, receiving, or otherwise transmitting a bet or wager where-
(ii) the bet or wager and the method by which the bet or wager is initiated and received or otherwise made is expressly authorized by and placed in accordance with the laws of such State, and the State law or regulations include-
(iii) the bet or wager does not violate any provision of-
(II) chapter 178 of title 28 (commonly known as the "Professional and Amateur Sports Protection Act");
(C) Intratribal transactions.-The term "unlawful Internet gambling" does not include placing, receiving, or otherwise transmitting a bet or wager where-
(i) the bet or wager is initiated and received or otherwise made exclusively-
(ii) the bet or wager and the method by which the bet or wager is initiated and received or otherwise made is expressly authorized by and complies with the requirements of-
(iii) the applicable tribal ordinance or resolution or Tribal-State Compact includes-
(iv) the bet or wager does not violate any provision of-
(D) Interstate horseracing.-
(i) In general.-The term "unlawful Internet gambling" shall not include any activity that is allowed under the Interstate Horseracing Act of 1978 (15 U.S.C. 3001 et seq.).
(ii) Rule of construction regarding preemption.-Nothing in this subchapter may be construed to preempt any State law prohibiting gambling.
(iii) Sense of congress.-It is the sense of Congress that this subchapter shall not change which activities related to horse racing may or may not be allowed under Federal law. This subparagraph is intended to address concerns that this subchapter could have the effect of changing the existing relationship between the Interstate Horseracing Act and other Federal statutes in effect on the date of the enactment of this subchapter. This subchapter is not intended to change that relationship. This subchapter is not intended to resolve any existing disagreements over how to interpret the relationship between the Interstate Horseracing Act and other Federal statutes.
(E) Intermediate routing.-The intermediate routing of electronic data shall not determine the location or locations in which a bet or wager is initiated, received, or otherwise made.
(11) Other terms.-
(A) Credit; creditor; credit card; and card issuer.-The terms "credit", "creditor", "credit card", and "card issuer" have the meanings given the terms in section 103 of the Truth in Lending Act (15 U.S.C. 1602).
(B) Electronic fund transfer.-The term "electronic fund transfer"-
(C) Financial institution.-The term "financial institution" has the meaning given the term in section 903 of the Electronic Fund Transfer Act, except that such term does not include a casino, sports book, or other business at or through which bets or wagers may be placed or received.
(D) Insured depository institution.-The term "insured depository institution"-
(E) Money transmitting business and money transmitting service.-The terms "money transmitting business" and "money transmitting service" have the meanings given the terms in section 5330(d) (determined without regard to any regulations prescribed by the Secretary thereunder).
(Added Pub. L. 109–347, title VIII, §802(a), Oct. 13, 2006, 120 Stat. 1953 .)
Sections 3(a)(47) and 28(a) of the Securities Exchange Act of 1934, referred to in par. (1)(E)(i), (iv)(II), are classified to sections 78c(a)(47) and 78bb(a), respectively, of Title 15, Commerce and Trade.
The Commodity Exchange Act, referred to in par. (1)(E)(ii), (iv)(II), is act Sept. 21, 1922, ch. 369, 42 Stat. 998 , which is classified generally to chapter 1 (§1 et seq.) of Title 7, Agriculture. Section 12(e) of the Act is classified to section 16(e) of Title 7. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables.
The Interstate Horseracing Act of 1978, referred to in par. (10)(B)(iii)(I), (C)(iv)(I), (D)(i), (iii), is Pub. L. 95–515, Oct. 25, 1978, 92 Stat. 1811 , which is classified generally to chapter 57 (§3001 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 3001 of Title 15 and Tables.
The Gambling Devices Transportation Act, referred to in par. (10)(B)(iii)(III), (C)(iv)(III), is act Jan. 2, 1951, ch. 1194, 64 Stat. 1134 , which is classified generally to chapter 24 (§1171 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see Short Title note set out under section 1171 of Title 15 and Tables.
The Indian Gaming Regulatory Act, referred to in par. (10)(B)(iii)(IV), (C)(i), (iv)(IV), is Pub. L. 100–497, Oct. 17, 1988, 102 Stat. 2467 , which is classified principally to chapter 29 (§2701 et seq.) of Title 25, Indians. For complete classification of this Act to the Code, see Short Title note set out under section 2701 of Title 25 and Tables.