Texas Occupations Code 2001.505 – Report of Expenses
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(a) A licensed authorized organization conducting bingo shall submit quarterly to the commission a report under oath stating:
(1) the amount of the gross receipts derived from bingo;
(2) each item of expense incurred or paid;
(3) each item of expenditure made or to be made, the name and address of each person to whom each item has been paid or is to be paid, and a detailed description of the merchandise purchased or the services rendered;
(4) the net proceeds derived from bingo;
(5) the use to which the proceeds have been or are to be applied; and
(6) a list of prizes offered and given, with their respective values.
(b) A license holder shall maintain records to substantiate the contents of each report.
Terms Used In Texas Occupations Code 2001.505
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) Repealed by Acts 2009, 81st Leg., R.S., Ch. 636, Sec. 42(10), eff. October 1, 2009.