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Notwithstanding § 13-507 of this subtitle, an organization may conduct bingo if:

(1) the membership of the organization consists only of individuals who are at least 60 years old;

(2) the organization was formed primarily for social purposes;

(3) all proceeds of the games of bingo are used only to further the purposes of the organization; and

(4) the organization complies with the permit procedures and conditions imposed under § 13-507 of this subtitle.