Ga. Comp. R. & Regs. R. 92-2-.21 - Total Prize Value Limit

It shall be unlawful to award prizes in excess of $1,500 in cash or gifts of equivalent value during any calendar day or $3,000 in cash or gifts of equivalent value during any calendar week. It shall be unlawful to exceed such limit at any combination of locations operated by a single licensee or his agents or employees. It shall be unlawful for two or more licensees to pyramid the valuation of prizes in such a manner as to exceed the limits contained in this Code section. The term "equivalent value" shall mean the fair market value of the gift on the date the gift was given as the prize in a bingo game. Total amounts shall include the cost of all prizes awarded in conjunction with any bingo session whether such prized were awarded in conjunction with playing bingo or for some other reason.

Notes

Ga. Comp. R. & Regs. R. 92-2-.21

O.C.G.A. Secs. 16-12-2, 16-12-60.

Original Rule entitled "Payment to Individuals" adopted as ER. 92-2-0.2-.21. F. and eff. April 9, 1980, the date of adoption. Amended: Permanent Rule of same title adopted. F. June 11, 1980; eff. July 1, 1980. Repealed: New Rule entitled "Total Prize Value Limit" adopted. F. Dec. 8, 1983; eff. Dec. 28, 1983. Amended: F. Sept. 16, 2003; eff. Oct. 6, 2003.