| (a) For purposes of §2001.451(c), Texas Occupations
Code, "other account" means an account other than the bingo account
held in the name of the licensed authorized organization.
(b) Notification of the transfer of funds into the
bingo account or bingo unit account must be submitted on a form prescribed
by the Commission. To be timely submitted, the notification's postmark
date, date of delivery for common carrier, date of e-mail, or date
of facsimile must clearly show a date that is no later than 14 calendar
days after the date the funds were transferred.
(c) An applicant for an original license to conduct
bingo must not have a bingo bank account until licensed. Any funds
transferred to the bingo bank account after the license is issued
must provide a Transfer of Funds-Bingo Bank Account form to the Commission
no later than 14 calendar days after the date the funds were transferred.
(d) The licensed authorized organization must show
the amount of transferred funds on the Texas Bingo Quarterly report
for the quarter the funds were transferred.
(e) A licensed authorized organization or unit must
maintain records to substantiate the transfer of funds into or removed
from the bingo account or bingo unit account.
(f) All or part of the transferred funds may be transferred
from the bingo account or bingo unit account back to the licensed
authorized organization or unit. The amount of transferred funds removed
from the licensed authorized organization's bingo account or bingo
unit account must be shown as reimbursed transferred funds on the
Texas Bingo Quarterly report for the quarter the funds were removed.
(g) Funds transferred to the bingo account or bingo
unit account may be used for authorized expenses but will not be used
to determine if the organization's bingo operation resulted in net
proceeds over its license period.
(h) Only funds from a licensed authorized organization's
other account may be transferred into its bingo account or bingo unit
account if the licensed authorized organization is a member of an
accounting unit at the time the funds are transferred.
(i) At the time the funds are transferred into a bingo
account or bingo unit account the reconciled bank balance for the
quarter that the funds were transferred into the bingo account or
bingo unit account may not exceed the licensed authorized organization's
or unit's authorized quarterly operating capital as determined by
the Commission.
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