23 CAR § 350-121. Bingo and raffle accounts

(a) A licensed authorized organization with gross receipts from raffles or bingo games in excess of five hundred dollars ($500) per month shall establish and maintain one (1) regular checking account designated as the bingo and raffles account. (b) A licensed authorized organization may also maintain an interest bearing savings account designated as the bingo and raffles savings account. (c)(1) A licensed authorized organization shall deposit in the bingo and raffle account all funds derived from the conduct of games of bingo and raffles, less the amount awarded as prizes. (2) Except as provided under Acts 2007, No. 388, a deposit shall be made not later than the next business day after the day of the raffle or bingo session on which the receipts were obtained. (d) A licensed authorized organization may deposit funds derived from the conduct of a raffle or games of bingo that are paid through a debit card transaction into the bingo and raffles fund not later than seventy-two (72) hours after the transaction. (e) A licensed authorized organization may lend money from its general fund to its bingo and raffle account. (f) Except as permitted, a licensed authorized organization shall not commingle gross receipts derived from the conduct of bingo and raffles with other funds of the organization. (g) Except as permitted, the licensed authorized organization shall not transfer gross receipts to another account (bank) maintained by the licensed authorized organization. (h) A licensed authorized organization shall maintain all of its savings and checking accounts in a financial institution located in this state. (i) Funds may be deposited into a bingo and raffle account only as provided in Arkansas Code § 23-114-501 and this part.