§ 24-21-627 — Common members - bingo-raffle licensees - definition

(1) For
the purposes of this section, bingo-raffle licensee affiliate means the following:

(a) A person that directly or indirectly through one or more intermediaries
controls, is controlled by, or is under common control with, a bingo-raffle licensee
specified; or

(b) A person that has an officer, director, member, manager, partner, games
manager, salaried employee, or immediate family member in common with a bingo-raffle licensee.

(2) Proceeds from a bingo or raffle game that are transferred from a bingo-raffle licensee to a bingo-raffle licensee's affiliate shall not be used to pay the
salary, remuneration, or expenses of any officer, director, member, manager,
partner, games manager, or employee of such affiliate. The donee entity or
organization shall deposit all such transferred proceeds in a segregated account
that contains only such donations, and the transferred proceeds shall not be
commingled with other funds of the donee entity or organization. The licensing
authority and its agents may examine or cause to be examined the books and
records of any donee entity or organization insofar as they may relate to account or
to any transactions connected with bingo or raffle proceeds.

Legislative History

Source: L. 2017: Entire part added with relocations, (SB 17-232), ch. 233, p. 940, � 2, effective May 23.