23-114-503. Authorized uses of a bingo and raffle account.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-114-503. Authorized uses of a bingo and raffle account.

23-114-503. Authorized uses of a bingo and raffle account. (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 transfer of net proceeds derived from the conduct of games of bingo or raffles to the licensed authorized organization's bingo and raffle savings account pending a disbursement to a charitable purpose. (b) A licensed authorized organization shall make the disbursement of net proceeds on deposit in the bingo and raffle savings account to a charitable purpose by transferring the intended disbursement back into the licensed authorized organization's bingo and raffle account and then withdrawing an amount by a check drawn on the bingo and raffle account.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-114-503

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.