462.200 - Limitation on expenditure of net proceeds of charitable lottery; annual financial report required. - Nevada Statutes

462.200  Limitation on expenditure of net proceeds of charitable lottery; annual financial report required.

      1.  A qualified organization shall expend the net proceeds of a charitable lottery only for the benefit of charitable or nonprofit activities in this state.

      2.  A qualified organization approved by the Executive Director shall, after the completion of a charitable lottery and no later than the end of the same calendar year, submit to the Executive Director a financial report on the charitable lottery. The financial report must include a statement of:

      (a) The expenses incurred in the operation of the charitable lottery; and

      (b) The amount and use of the net proceeds of the charitable lottery.

      (Added to NRS by 1991, 2261)