Texas Statutes (Last Updated: January 4, 2014) |
OCCUPATIONS CODE |
Title 13. SPORTS, AMUSEMENTS, AND ENTERTAINMENT |
Subtitle A. GAMING |
Chapter 2001. BINGO |
Subchapter I-1. UNIT ACCOUNTING |
Sec. 2001.435. UNIT ACCOUNTING
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(a) A unit:
(1) shall establish and maintain one checking account designated as the unit's bingo account;
(2) shall maintain one inventory of bingo supplies and equipment for use in the bingo operations of members of the unit; and
(3) may maintain an interest-bearing savings account designated as the unit's bingo savings account.
(b) Each member of a unit shall deposit into the unit's bingo account all funds derived from the conduct of bingo, less the amount awarded as cash prizes under Sections 2001.420(a) and (b). The deposit shall be made not later than the second business day after the day of the bingo occasion on which the receipts were obtained.
(c) All authorized expenses and distributions of the unit and its members shall be paid from the unit's bingo checking account.