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§ 7.62 Bingo <br /> <br /> Sub& 3. No eligible organization shall conduct bingo on any leased <br />premises without a written lease for a term at least equal to the remainder of the <br />term of the bingo license of the lessee organization. Lease payments shall be at a <br />fixed monthly rate, or rate per bingo occasion, not subject to change during the <br />term of the lease. No such lease shall provide that rental payments be based on a <br />percentage of receipts or profits from bingo occasions. <br /> <br />7.62.08 <br /> <br /> Subdivision 1. Prizes for a single bingo g-me shall not exceed $100.00 <br />except prizes for a game of the type commonly known as a "cover-all" game. <br />"Cover-all" prizes may exceed $100.00 provided that the aggregate value of such <br />prizes for a bingo occasion shall not exceed $500.00. The aggregate value of prizes <br />for a bingo occasion shall not exceed $2500.00 except that in the case of a bingo <br />occasion during which s "cover-all" game is played for a maximum prize of more <br />than $100.00 but less than $500.00, the aggregate value of prizes for the bingo <br />occasion shall not exceed $3,000.00. Merchandise prizes shall be valued at fair <br />market retail value. <br /> <br /> Subd. 2, Each bingo winner shall be determined and every prize <br />shall be awarded and delivered the same day on which the bingo occasion is <br />conducted. <br /> <br />7.62.09 Records. <br /> <br /> Subdivision1. Each licensed organization shall keep records of its <br />gross receipts and profits for each bingo occasion. All deductions from gross <br />receipts from a bingo occasion shall be doc-mented with receipts or other records. <br />The distribution of profits shall be itemized as to payee, amount, and date of <br />payment. Records required by this chapter shall be preserved for three years. <br /> <br /> Sub&P- Gross receipts shall be compared to the checkers' records <br />for the bingo occasion by a person who did not sell cards for the bingo occasion. If a <br />discrepancy exceeding $20.00 is found between the amount of gross receipts for a <br />bingo occasion as determined by the checkers' records, and the amount of gross <br />receipts as determined by totaling the cash receipts, the discrepancy shall be <br />reported to and investigated by the cou.ucil. <br /> <br /> Sub&~ Bingo gross receipts shall be segregated from other <br />revenues of an organization and placed in a separate account. Each organization <br />shall maintain separate records of its bingo operations. The person who accounts <br />for bingo gross receipts and profits shall not be the same person who accounts for <br />other revenues of the licensed organization. <br /> <br />7.62.10 Report~ <br /> <br /> Subdivision 1. Each licensed organization shall report monthly to its <br />membership its gross receipts from bingo, its profits from bingo, and the <br />distribution of those profits itemized as required in §7.62.09 <br /> <br />Page 210 <br /> <br />Printed 12,'28/90 <br /> <br /> <br />