16-633 C.M.R. ch. 30, § 8 - Reports and Records Required

1. Within ten (10) business days after any period in which Bingo or Beano is conducted, the Licensee shall file with the Gambling Control Unit a disposition of funds form prescribed and furnished by the Gambling Control Unit, even if the event canceled, which shall include:

a. An exact account of all income from Beano or Bingo;

b. A list of all expenses, including, but not limited to, the cost of all prizes, printing, licenses and administration; and

c. An exact account of the disposition of all other proceeds from Beano or Bingo, including, but not limited to, all gifts, grants and payments to any person, firm, corporation, association or organization for any purpose whatsoever, provided, however, that nothing in these Regulations shall be construed to prevent a Licensee from making a payment to the general fund of its respective Indian Nation or Tribe after all necessary expenditures entailed in its Beano/Bingo operation have been made. Every such statement shall be made under oath by the member in charge of such occasion.

2. All records of financial transactions involving Beano/Bingo shall be separate and distinguishable from all other financial records of the Licensee.

3. Each Licensee shall maintain and keep for a period of three (3) years following the date the occasion was held such books and records as may be necessary to substantiate the reports required thereafter.

4. The Director or their authorized representative may examine the books and records of any Licensee at any time, so far as those books and records relate to the transactions connected with the holding, operating and conducting of Beano/Bingo, and the Licensee shall cooperate with the Director or their representative by making such books and records available to them. The Gambling Control Unit may also examine any manager, officers, director, agent, member or employee of the licensee in relation to the conduct of a game of Beano/Bingo, or concerning the conduct of Beano/Bingo.

Notes

16-633 C.M.R. ch. 30, § 8