Wash. Admin. Code § 230-11-013 - Conducting a raffle by a credit union

Current through Register Vol. 21-18, September 15, 2021

The following requirements apply when a credit union organized and operating under state or federal law conducts a raffle:

(1) All revenue received from raffles, less prizes and expenses, must be devoted to purposes authorized in RCW 9.46.0209(1); and
(2) Tickets for such raffles can be sold only to, and winners are determined only from among, the regular members of the credit union; and
(3) All recordkeeping requirements outlined in this chapter must be met; and
(4) A license must be obtained if gross revenues from all such raffles held by the credit union during a calendar year exceed five thousand dollars.

Notes

Wash. Admin. Code § 230-11-013
Adopted by WSR 19-23-071, Filed 11/18/2019, effective 12/19/2019

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