D.C. Mun. Regs. tit. 30, r. 30-1205
Current through Register Vol. 71, No. 49, December 6, 2024
At the time application for a bingo or raffle license is made, the Agency shall require each applicant to provide financial security in the form of certified funds, a bond, or other form of security as prescribed by the Executive Director.
In accordance with D.C. Official Code § 3-1325, the financial security required in § 1205.1 shall guarantee the faithful discharge of the duties of the member responsible for gross receipts, payment of expenses, including fees and taxes, that net proceeds are expended for a lawful purpose, and that all prizes are awarded.
The amount of the financial security shall be at least two hundred ($200) dollars and shall not exceed the aggregate value of the prize(s) offered.
D.C. Mun. Regs. tit. 30, r. 30-1205