=== promotion.module
==================================================================
--- promotion.module	(revision 7709)
+++ promotion.module	(local)
@@ -65,6 +65,7 @@
     $form['promotion_required'] = array(
       '#type' => 'checkbox',
       '#title' => t('Require a valid promotional code to register for an account.'),
+      '#default_value' => variable_get('promotion_required', 0),
     );
   }