N.M. Admin. Code § 15.4.5.27 - CESSATION OF GAMES OF CHANCE; SURRENDER AND CANCELLATION OF LICENSE
A. The licensees
shall notify the taxation and revenue department of cessation of bingo and
raffle activities in writing.
B.
The licensee seeking to cease operations shall submit a form prescribed by the
board to include the licensee's name, license number and the names of all
permittees with badge numbers, and the type of property/venue to the board's
licensing division no later than 10 days from the final occasion.
C. The licensee shall surrender all licenses
issued by the board to the board's licensing division no later than 10 days
from the final occasion.
D. The
licensee may sell or donate any equipment only to licensed operators or
distributors.
E. The licensee shall
sell or donate unopened pull-tab deals only to licensed operators or
distributors.
F. The licensee may
sell or donate unopened packages of bingo cards only to licensed operators or
distributors.
G. All reporting
requirements apply to the final quarterly report.
H. The licensee shall submit the final
quarterly bingo and raffle activity reports on the prescribed quarterly report
forms no later than 45 days from the final occasion conducted.
I. All monies in the bingo operating account
shall be fully distributed and checks cleared no later than the 45 days from
the last occasion. The bingo operating account balance should be zero. Proof of
a zero balance in the bingo operating account and the closing of that account
shall be sent to the board.
J. The
ceasing of bingo activities does not relieve the bingo operator licensee of its
obligations to pay any tax, fees or costs due or to submit any report or
information required as a result of engaging in games of chance.
K. The board may take disciplinary action
against any licensee that ceases games of chance without notice to the board,
including revoking the license, imposing a fine, or both.
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