Michigan Laws 432.143 – Record of event; inspection of record; financial statement; inspection of location
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Terms Used In Michigan Laws 432.143
- Event: means , in article 1, an occasion of bingo games, a raffle, a charity game, or a numeral game conducted under a license issued under article 1, and in article 2, an occasion of a millionaire party conducted under a license issued under article 2. See Michigan Laws 432.102
- Executive director: means the executive director of the board, appointed under section 4 of the Michigan gaming control and revenue act, 1996 IL 1, MCL 432. See Michigan Laws 432.102
- Licensee: means a person, including a qualified organization, licensed under this act. See Michigan Laws 432.103
- Location: means a building, enclosure, part of a building or enclosure, or a distinct portion of real property that is used for the purpose of conducting an event. See Michigan Laws 432.103
- Location owner: means the person that owns a location or an employee or agent of the person. See Michigan Laws 432.132
- Millionaire party: means an event at which wagers are placed on games of chance customarily associated with a gambling casino through the use of imitation money or chips that have a nominal value equal to or greater than the value of the currency for which they can be exchanged. See Michigan Laws 432.103
- Principal officer: means the highest ranking officer of the qualified organization according to its written constitution, charter, articles of incorporation, or bylaws. See Michigan Laws 432.103a
- Qualified organization: means , subject to subdivision (e), either of the following:
(i) A bona fide religious, educational, service, senior citizens, fraternal, or veterans' organization that operates without profit to its members and that either has been in existence continuously as an organization for a period of 5 years or is exempt from taxation under section 501(c) of the internal revenue code of 1986, 26 USC 501(c). See Michigan Laws 432.103astate: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) A millionaire party licensee shall keep a record of each event as required by the executive director.
(2) The millionaire party licensee shall allow an authorized representative of the executive director to inspect during reasonable business hours a record kept under subsection (1) and all financial accounts into which proceeds from the event are deposited or transferred.
(3) A millionaire party licensee shall file with the executive director a financial statement signed by the principal officer of the qualified organization. The financial statement must contain a list of the qualified members of the millionaire party licensee who were present as to each event and a disclosure of receipts and expenses related to the conduct of each event as required by rule promulgated under this act. If the revenue from a millionaire party is represented to be used or applied by a millionaire party licensee for a charitable purpose, the licensee shall file a copy of the financial statement with the attorney general under the supervision of trustees for charitable purposes act, 1961 PA 101, MCL 14.251 to 14.266.
(4) A millionaire party licensee and a location owner or lessee shall allow an authorized representative of the executive director or the state police or a peace officer of a political subdivision in which the event is being conducted to inspect the location, or an intended location, during business hours.