Public-domain · open source
OpenJurist

Ark. Code Ann. § 23-114-503

Authorized uses of a bingo and raffle account

Known as the Charitable Bingo and Raffles Enabling Act

The act spans §§ 23–23 (43 sections).

Acts 2007, No. 388, § 1.

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

(4) 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.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.