New Mexico § 60-2F-19 - Quarterly reports required; accounting requirements

§ 60-2F-19. Quarterly reports required; accounting requirements

A. On or before April 25, July 25, October 25 and January 25, the game accountant

shall file with the board, upon forms prescribed by the board, a duly verified statement

covering the preceding calendar quarter showing the amount of the gross receipts derived

during that period from games of chance, the total amount of prizes paid, the name

and address of each person to whom has been paid six hundred dollars ($600) or more

and the purpose of the expenditure, the gross receipts derived from each game of chance

and the uses to which the net proceeds have been or are to be applied. It is the duty of each bingo licensee to maintain and keep the books and records

necessary to substantiate the particulars of each report. B. If a bingo licensee fails to file reports within the time required or if the reports

are not properly verified or not fully, accurately and truthfully completed, the licensee

is subject to disciplinary action, including a suspension, until the default has been

corrected. C. All money collected or received from the sale of admission, extra regular cards,

special game cards, sale of supplies and all other receipts from the games of chance

shall be deposited in a bingo and raffle operating account of the bingo licensee that

shall contain only such money. All expenses for the game shall be withdrawn from the account by consecutively numbered

checks duly signed by specified officers of the licensee and payable to a specific

person or organization. There shall be written on the check the nature of the expense for which the check

is drawn. D. No check shall be drawn to “cash” or a fictitious payee. E. No portion of any contribution to lawful purposes, after it has been given over

to another organization, shall be returned to the donor organization.