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Texas Occupations Code - OCC § 2001.435. Unit Accounting

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A unit:

(1) shall establish and maintain one checking account designated as the unit's bingo account;

(2) shall maintain one inventory of bingo supplies and equipment for use in the bingo operations of members of the unit;  and

(3) may maintain an interest-bearing savings account designated as the unit's bingo savings account.

(b) Each member of a unit shall deposit into the unit's bingo account all funds derived from the conduct of bingo, less the amount awarded as cash prizes.  The deposit shall be made not later than the third business day after the day of the bingo occasion on which the receipts were obtained.

(c) All authorized expenses and distributions of the unit and its members shall be paid from the unit's bingo checking account.

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Cite this article: FindLaw.com - Texas Occupations Code - OCC § 2001.435. Unit Accounting - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-2001-435/

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