(a) (1) A licensed authorized organization with gross receipts from raffles or games of bingo in excess of five hundred dollars ($500) per month shall establish and maintain one (1) regular checking account designated as the bingo and raffle account. (2) A licensed authorized organization may also maintain an interest-bearing savings account designated as the […]
(a) (1) Funds from the bingo and raffle account shall be withdrawn by preprinted, consecutively numbered checks or withdrawal slips, signed by an authorized representative of the licensed authorized organization and made payable to a person. (2) A check or withdrawal slip shall not be made payable to “cash”, “bearer”, or a fictitious payee. (3) […]
(a) A licensed authorized organization may draw a check on the licensed authorized organization’s bingo and raffle account only for: (1) The payment of necessary and reasonable bona fide bingo-related and raffle-related expenses; (2) The disbursement of net proceeds derived from the conduct of games of bingo or raffles to charitable purposes; or (3) The […]
(a) A licensed authorized organization shall devote to the charitable purposes of the licensed authorized organization its net proceeds of games of bingo and raffles. (b) Except as otherwise provided by law, the net proceeds derived from games of bingo and raffles are dedicated to the charitable purposes of the licensed authorized organization only if […]
A licensed authorized organization shall not use the net proceeds from games of bingo or raffles directly or indirectly to: (1) Support or oppose a candidate or slate of candidates for public office; (2) Support or oppose a measure submitted to a vote of the people; or (3) Influence or attempt to influence legislation.
(a) Expenses that are reasonable and necessary to lawfully conduct games of bingo or raffles are allowable and include expenses incurred for: (1) Advertising, including the cost of printing bingo and raffle gift certificates; (2) Repairs to premises and equipment; (3) Bingo and raffle supplies and equipment; (4) Prizes; (5) Stated rental or mortgage and […]
The following items of expenses incurred or paid in connection with the conduct of games of bingo or raffles must be paid from a licensed authorized organization’s bingo and raffle account if the licensed authorized organization is required under § 23-114-501 to maintain such an account: (1) Advertising, including the cost of printing bingo and […]
