"Bona fide out-of-state charitable organization" refers to an organization that:

1. (1) operates without profit to the organization's members;
2. (2) is exempt from taxation under Section 501 of the Internal Revenue Code;
3. (3) has a constitution, articles, charter, or bylaws that contain a clause that provides that upon dissolution all remaining assets shall be used for the nonprofit's stated purposes; and
4. (4) is otherwise ineligible to obtain a charity gaming license in Indiana.

As added by P.L.58-2019, SEC.4.