Ohio Admin. Code 109:1-5-20 - Separate accounts
(A)
Licensed e-bingo
organization shall keep all proceeds from the sale of electronic instant bingo
in a checking account devoted exclusively to the organization's electronic
instant bingo activities. The checking account shall be with a financial
institution with a physical presence and licensed to do business in
Ohio.
(B)
The licensed e-bingo organization shall make all
required charitable distributions directly from the checking account devoted
exclusively to electronic instant bingo into an account at an Ohio bank which
shall be in the name of the charitable organization with which the organization
conducting electronic instant bingo has contracted. The contracted charity's
bank account shall be with a financial institution with a physical presence and
licensed to do business in Ohio.
(C)
The licensed
e-bingo organization shall have sole and exclusive control of all withdrawals
from the checking account referenced in paragraph (A) of this rule. No
distributor, manufacturer, contracted charity, or any other third party shall
be given the authority to initiate withdrawals of any deposited funds from the
account.
Notes
Promulgated Under: 119.03
Statutory Authority: 2915.14(D)
Rule Amplifies: 2915.14
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