23 CAR § 350-123 – Authorized uses of bingo and raffle account

(a) A licensed authorized organization may draw a check on the organization’s bingo and raffle account only for:
1. (1) The payment of necessary and reasonable bona fide bingo and raffle related expenses as described in 23 CAR § 350-127 of this part;
2. (2) The disbursement of net proceeds derived from the conduct of games of bingo or raffles to charitable purposes as described in 23 CAR § 350-125 of this part; and
3. (3) The transfer of net proceeds derived from the conduct of games of bingo and raffle to the licensed authorized organization’s bingo and raffle savings account pending a disbursement to a charitable purpose.
(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 checking account and then withdrawing an amount by a check drawn on the bingo and raffle checking account.