N.M. Admin. Code § 15.4.5.12

Current through Register Vol. 35, No. 21, November 5, 2024

Section 15.4.5.12 - PAYMENT OF WINNINGS

A. All prizes shall be paid from the licensee's bingo operating account.

B. All gross receipts collected during the occasion shall be deposited into the bingo operating account. Prize payouts from gross receipts collected during an occasion is prohibited.

C. Upon determining a winner, the licensee shall remove any merchandise prize won immediately from display and it shall be tendered to the winner. Cash or checks issued for prizes shall be awarded immediately. Checks issued for prizes from the bingo operating account shall be consecutively numbered, signed by two authorized representatives of the licensee and made payable to a person, and the nature of the payment shall be noted on the face of the check.

D. Licensees offering any merchandise as a prize shall have documented proof of ownership of said item, free from any and all liens, mortgages and encumbrances prior to the sale of any bingo cards, raffle tickets or pull-tabs. This documented evidence of ownership shall be made available to the either the board or any law enforcement agency upon demand.

N.M. Admin. Code § 15.4.5.12

15.4.5.12 NMAC - N, 4/15/2013, Adopted by New Mexico Register, Volume XXXII, Issue 04, February 23, 2021, eff. 2/23/2021