N.M. Admin. Code § 15.4.5.12 - PAYMENT OF WINNINGS
A. All
prizes shall be paid from the licensee's bingo operating account.
B. All gross receipts collected during the
occasion shall be deposited into the bingo operating account. Prize payouts
from gross receipts collected during an occasion is prohibited.
C. Upon determining a winner, the licensee
shall remove any merchandise prize won immediately from display and it shall be
tendered to the winner. Cash or checks issued for prizes shall be awarded
immediately. Checks issued for prizes from the bingo operating account shall be
consecutively numbered, signed by two authorized representatives of the
licensee and made payable to a person, and the nature of the payment shall be
noted on the face of the check.
D.
Licensees offering any merchandise as a prize shall have documented proof of
ownership of said item, free from any and all liens, mortgages and encumbrances
prior to the sale of any bingo cards, raffle tickets or pull-tabs. This
documented evidence of ownership shall be made available to the either the
board or any law enforcement agency upon demand.
Notes
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