N.Y. Comp. Codes R. & Regs. tit. 9 § 4624.8

Current through Register Vol. 46, No. 36, September 4, 2024

Section 4624.8 - Special games of chance, raffle and bell jar account

(a) For games of chance, bell jar, and for raffle ticket proceeds that exceed $30,000 per calendar year, each licensee must maintain a regular checking account as its games of chance account, which shall be designated the "special games of chance account." Into this account shall be deposited all and only monies received from admission charges, total profits from games other than merchandise wheels, total cash receipts from merchandise wheels, receipts from the sale of raffle tickets and bell jar tickets, coin boards, merchandise boards and seal cards, and cash bank if such cash bank monies were initially withdrawn from this account. Receipts from the sale of food and refreshments or alcoholic beverages shall not be deposited into this account. Deposits shall be made intact and no later than the next business day following the date of a games of chance license period, excluding raffles and bell jars (which shall include coin boards, merchandise boards and seal cards), deposits for which shall be made no later than Wednesday of each week, except when such day is a holiday, in which case said deposit shall be made on the next business day. In the case of bell jars and raffles, each licensee is encouraged to maintain a separate regular checking account which shall be designated the "special raffle account" or "special bell jar account." Into this account shall be deposited all and only monies derived from the sale of raffle tickets or bell jar tickets, respectively. Deposits shall be made no later than Wednesday of each week, except when such day is a holiday, and in that case said deposit shall be made on the next business day.

(b) In cases where licensed authorized organizations have submitted a verified statement form GCVS-1 in lieu of raffle license application, and the licensee in fact does not derive raffle proceeds in excess of $30,000 in a single occasion, the member in charge shall declare, under the penalties of perjury, on the verified statement of raffle operations GCVS-2 required under section 4624.1 of this Part, that the proceeds have been deposited into a bank account maintained solely by the authorized organization to be disbursed only for lawful expenditures permitted under section 4624.21 of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 4624.8