Section R15-7-232. Bingo Bank Accounts

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A. A licensee shall maintain only one, federally insured checking account for bingo purposes. The licensee shall maintain suffi- cient funds in the bingo checking account to cover all checks written. A licensee shall not stop payment on any prize check without first notifying the Department.

B. A licensee may establish interest-bearing accounts that are federally insured. If the licensee transfers funds from an inter- est bearing account, the licensee shall directly transfer the funds into the bingo checking account before making any expenditure.

Historical Note

Adopted effective June 5, 1984 (Supp. 84-3). Amended

effective April 25, 1986 (Supp. 86-2). Amended effective

December 22, 1989 (Supp. 89-4). Amended by final

rulemaking at 9 A.A.R. 4186, effective November 8,

2003 (Supp. 03-3).

                    
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