WAC 230-11-013. Conducting a raffle by a credit union

The following requirements apply when a credit union organized and operating under state or federal law conducts a raffle: (1) All revenue received from raffles, less prizes and expenses, must be devoted to purposes authorized in RCW 9.46.0209 (1); and (2) Tickets for such raffles can be sold only to, and winners are determined only from among, the regular members of the credit union; and (3) All recordkeeping requirements outlined in this chapter must be met; and (4) A license must be obtained if gross revenues from all such raffles held by the credit union during a calendar year exceed five thousand dollars.