Authorized uses of a bingo and raffle account

  1. Law
  2. Arkansas Code
  3. Public Utilities and Regulated Industries
  4. Miscellaneous Regulated Industries
  5. Charitable Bingo and Raffles Enabling Act
  6. Bingo And Raffle Accounts
  7. Authorized uses of a bingo and raffle account

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  1. (a) A licensed authorized organization may draw a check on the licensed authorized organization's bingo and raffle account only for:

    1. (1) The payment of necessary and reasonable bona fide bingo-related and raffle-related expenses;

    2. (2) The disbursement of net proceeds derived from the conduct of games of bingo or raffles to charitable purposes; or

    3. (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.

  2. (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.


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