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23-114-507. Expenses paid from bingo and raffle account.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-114-507. Expenses paid from bingo and raffle account.
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 raffle gift certificates;
(2) Repairs to premises and equipment;
(3) Bingo and raffle supplies and equipment;
(4) Prizes;
(5) Stated rental or mortgage and insurance expenses;
(6) Bookkeeping or accounting services; and
(7) License fees.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-114-507
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.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-114-507
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 8cc583b9277f963d7df5a9c18ac4f5a2e7a5e5cd2a843664ed210bbae9777ce8
Source location: content.xml paragraph 65255
Stored source content
23-114-507. Expenses paid from bingo and raffle account.
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 raffle gift certificates;
(2) Repairs to premises and equipment;
(3) Bingo and raffle supplies and equipment;
(4) Prizes;
(5) Stated rental or mortgage and insurance expenses;
(6) Bookkeeping or accounting services; and
(7) License fees.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-114-501. Bingo and raffle accounts.
(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 bingo and raffle savings account.
(b)(1) A licensed authorized organization shall deposit into the bingo and raffle account all funds derived from the conduct of games of bingo and raffles, less the amount awarded as cash prizes. Except as provided by subdivision (b)(2) of this section, a deposit shall be made not later than the next business day after the day of the raffle or bingo session on which the receipts were obtained.
(2) A licensed authorized organization may deposit funds derived from the conduct of a raffle or games of bingo that are paid through a debit card transaction into the bingo fund not later than seventy-two (72) hours after the transaction.
(c)(1) A licensed authorized organization may lend money from its general fund to its bingo and raffle account.
(2) Except as provided by this section, no other funds may be deposited into the bingo and raffle account.
(d) Except as provided in subsection (c) of this section, a licensed authorized organization shall not commingle gross receipts derived from the conduct of games of bingo and raffles with other funds of the organization.
(e) Except as permitted, the licensed authorized organization shall not transfer gross receipts to another account maintained by the licensed authorized organization.
(f) A licensed authorized organization shall maintain all of its savings and checking accounts establish
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-114-501
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. The source passage cites 23-114-501. This identifies an authority to review, not proof of applicability.