Current through 2024-51, December 18, 2024
Section 633-31-7 - Expenditures1. The registrant may pay as compensation to a member of the registrant, who has been in good standing as such for at least two years previous to application, an amount not to exceed 200% of the minimum wage as established by Title 17, Chapter 13-A, §326, for advising, controlling and managing the conduct of Beano.2. The registrant may also pay as compensation to a member of the registrant who has been in good standing for at least one year previous to application, an amount not to exceed 200% of the minimum wage as established by Title 17, Chapter 13-A, §326 for assisting in the conduct of Beano.3. The registrant may pay as compensation to any member or employee an amount not to exceed 200% of the minimum wage as established by for janitorial services.4. The registrant may also pay reasonable amounts for the use of suitable premises, furniture and goods, wares, or merchandise to be given as prizes.5. All such payments shall be made from the respective Beano and Games of Chance accounts and reported on the respective Beano and Games of Chance disposition of funds reports.6. At no time shall the payments made pursuant to this rule exceed 20% of the net revenue after deducting expenses for prizes, license fees and any other direct expense.7. The registrant shall, in addition to the other books and records required hereafter, maintain and keep a separate financial account in a reputable banking establishment.16- 633 C.M.R. ch. 31, § 7