New Mexico § 60-2F-20 - Expenses; compensation
Full text of New Mexico New Mexico Statutes Annotated § 60-2F-20 — Expenses; compensation, with citation guidance and answers to common questions.
§ 60-2F-20. Expenses; compensation
A. No item of expense shall be incurred or paid in connection with the holding, operating
or conducting of a game of chance held, operated or conducted pursuant to a bingo
license except bona fide expenses in reasonable amounts for goods, wares and merchandise
furnished or services rendered reasonably necessary for the holding, operating or
conducting of a game of chance. Bona fide expenses include expenditures for payroll, building and equipment rent,
utilities, security, janitorial supplies, office supplies, equipment, insurance, bank
charges, automated teller machine fees, legal fees, advertising, accounting fees,
state and federal payroll-related taxes, state and federal gaming-related taxes and
all other reasonable expenses necessary for the operation of games of chance. B. A qualified organization desiring to retain the receipts derived from games of
chance in the bingo and raffle operating account and for a period longer than one
year shall apply to the board for special permission and, upon good cause shown, the
board shall grant the request.
Frequently Asked Questions About New Mexico § 60-2F-20
What does New Mexico Statutes Annotated § 60-2F-20 cover?
Section 60-2F-20 ("Expenses; compensation") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 60-2F-20?
A common citation format is "New Mexico Statutes Annotated § 60-2F-20" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 60-2F-20 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.