§ 23-114-408 - Prizes. - Arkansas Statutes

23-114-408. Prizes.

(a) A bingo prize shall not have a value of more than one thousand dollars ($1,000) for a single game.

(b) For the total prizes of all games of bingo, a licensed authorized organization shall not offer or award during a single bingo session prizes with an aggregate value of more than seven thousand five hundred dollars ($7,500).

(c) (1) A licensed authorized organization shall not award or offer to award a door prize with a value of more than two hundred fifty dollars ($250) per bingo session.

(2) The value of the door prize under subdivision (c)(1) of this section shall not accrue against the bingo session prize limitation of seven thousand five hundred dollars ($7,500).

(d) (1) A bingo prize, other than cash, may be merchandise with a recognized wholesale cost not to exceed one thousand dollars ($1,000).

(2) A copy of the receipt for merchandise under subdivision (d)(1) of this section shall be maintained in the licensed authorized organization's bingo records.

(e) (1) Except as otherwise provided in subdivision (e)(2) of this section, the total value of raffle prizes in a calendar year shall not exceed fifty thousand dollars ($50,000).

(2) If the prizes were donated to the licensed authorized organization, the total value of raffle prizes in a calendar year shall not exceed one hundred thousand dollars ($100,000), except as applicable to a temporary license to conduct a raffle under 23-114-302(b)(3).

(f) (1) A raffle prize shall not exceed five thousand dollars ($5,000) in cash.

(2) As used in this subsection, "cash" means coins, paper currency, or a negotiable instrument that represents and is readily convertible to coins or paper currency.