2016 Colorado Revised Statutes
Title 12 - Professions and Occupations
Article 9 - Bingo and Raffles Law
Part 1 - General Provisions
§ 12-9-112.5. Common members - bingo-raffle licensees

CO Rev Stat ยง 12-9-112.5 (2016) What's This?

(1) For the purposes of this section, "bingo-raffle licensee affiliate" means the following:

(a) Any person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, a bingo-raffle licensee specified; or

(b) Any person that has an officer, director, member, manager, partner, games manager, salaried employee, or member of their immediate families in common with a bingo-raffle licensee.

(2) Proceeds from a bingo or raffle game that are transferred from a bingo-raffle licensee to a bingo-raffle licensee's affiliate shall not be used to pay the salary, remuneration, or expenses of any officer, director, member, manager, partner, games manager, or employee of such affiliate. All such transferred proceeds shall be deposited by the donee entity or organization in a segregated account that contains only such donations, and such transferred proceeds shall not be commingled with other funds of the donee entity or organization. The licensing authority and its agents may examine or cause to be examined the books and records of any donee entity or organization insofar as they may relate to account or to any transactions connected with bingo or raffle proceeds.

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