Sec. 3. (a) A qualified organization is not required to obtain a license from the commission if the value of all prizes awarded at the allowable activity does not exceed two thousand five hundred dollars ($2,500) for a single activity and not more than seven thousand five hundred dollars ($7,500) during a calendar year.
(b) A qualified organization that plans to hold an allowable activity described in subsection (a) more than one (1) time a year shall send an annual written notice to the commission informing the commission of the following:
(1) The estimated frequency of the planned allowable activities.
(2) The location or locations where the qualified organization plans to hold the allowable activities.
(3) The estimated value of all prizes awarded at each allowable activity.
(c) The notice required under subsection (b) must be filed not later than thirty (30) days before the qualified organization holds the first allowable activity of the year.
(d) A qualified organization that conducts an allowable activity described in subsection (a) shall maintain accurate records of all financial transactions of the activity. The commission may inspect records kept in compliance with this section.
As added by P.L.58-2019, SEC.4.