N.M. Admin. Code § 15.4.5.27

Current through Register Vol. 35, No. 23, December 10, 2024

Section 15.4.5.27 - CESSATION OF GAMES OF CHANCE; SURRENDER AND CANCELLATION OF LICENSE

A. The licensees shall notify the taxation and revenue department of cessation of bingo and raffle activities in writing.

B. The licensee seeking to cease operations shall submit a form prescribed by the board to include the licensee's name, license number and the names of all permittees with badge numbers, and the type of property/venue to the board's licensing division no later than 10 days from the final occasion.

C. The licensee shall surrender all licenses issued by the board to the board's licensing division no later than 10 days from the final occasion.

D. The licensee may sell or donate any equipment only to licensed operators or distributors.

E. The licensee shall sell or donate unopened pull-tab deals only to licensed operators or distributors.

F. The licensee may sell or donate unopened packages of bingo cards only to licensed operators or distributors.

G. All reporting requirements apply to the final quarterly report.

H. The licensee shall submit the final quarterly bingo and raffle activity reports on the prescribed quarterly report forms no later than 45 days from the final occasion conducted.

I. All monies in the bingo operating account shall be fully distributed and checks cleared no later than the 45 days from the last occasion. The bingo operating account balance should be zero. Proof of a zero balance in the bingo operating account and the closing of that account shall be sent to the board.

J. The ceasing of bingo activities does not relieve the bingo operator licensee of its obligations to pay any tax, fees or costs due or to submit any report or information required as a result of engaging in games of chance.

K. The board may take disciplinary action against any licensee that ceases games of chance without notice to the board, including revoking the license, imposing a fine, or both.

N.M. Admin. Code § 15.4.5.27

15.4.5.27 NMAC - Rp, 15.4.3.9 NMAC, 4/15/2013, Adopted by New Mexico Register, Volume XXXII, Issue 04, February 23, 2021, eff. 2/23/2021