Women of the Motion Picture Industry, et al. - Page 12

                                          12                                           
          19a(a) (West 1987 & Supp. 1990).  The Act requires that "All                 
          funds derived from the conduct of bingo, less the amount awarded             
          as cash prizes, shall be deposited in the bingo account.  No                 
          other funds may be deposited in the bingo account."8  Id.  Checks            
          may be drawn on the bingo account for the payment of: necessary              
          expenses and compensation incurred and paid in connection with               
          the conduct of bingo; "the disbursement of net proceeds derived              
          from the conduct of bingo to charitable purposes"; and the                   
          transfer of net proceeds derived from the conduct of bingo to a              
          designated bingo savings account pending a disbursement to a                 
          charitable purpose.  Tex. Rev. Civ. Stat. Ann. art. 179d, sec.               
          19a(c) (West 1987 & Supp. 1990).  The transfer of gross receipts             
          derived from the conduct of bingo to another account maintained              
          by an organization is not permitted except as provided in section            
          19a(c).  Tex. Rev. Civ. Stat. Ann. art. 179d, sec. 19a(f), (g)               
          (West 1987 & Supp. 1990).  Gross receipts derived from the                   
          conduct of bingo may not otherwise be commingled with other funds            
          of the licensed organization.  Id.                                           
          FSEP, Schoenstatt, ACADA, and WSA - Substantiation                           
               Although we do not believe the matter to be free from doubt,            
          petitioners and respondent agree that the transfer of bingo                  
          proceeds from an organization's bingo account to its general fund            


          8    In 1990, this section was amended to provide that with prior            
          approval, a licensed organization may lend funds from its general            
          fund to its bingo account.  Tex. Rev. Civ. Stat. Ann. art. 179d,             
          sec. 19a(a) (West 1990).                                                     




Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  Next

Last modified: May 25, 2011