99B.16 Records and reports — licensed qualified organization.
212 words·~1 min read·
/ia/chapter-99b-social-and-charitable-gambling/99b-16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A qualified organization licensed pursuant to section 99B.12, unless otherwise provided, shall maintain proper books of account and records showing, in addition to any other information required by the department, the following:
a. Gross receipts and the amount of the gross receipts taxes collected or accrued with respect to gambling activities conducted by the licensed qualified organization.
b. All expenses, charges, fees, and other deductions.
c. The cash amounts, or the cost to the licensee of goods or other noncash valuables, distributed to participants in the licensed activity.
d. The amounts dedicated and the date and name and address of each person to whom distributed.
2. The books of account and records shall be made available to the department or a law enforcement agency for inspection at reasonable times, with or without notice. A failure to permit inspection is a serious misdemeanor.
3. A licensed qualified organization required to maintain records shall submit an annual report to the department on forms furnished by the department. The annual report shall be submitted by January 31 of each year for the prior calendar year period of January 1 through December 31.
2015 Acts, ch 99, §33, 56
Referred to in §99B.12, 99B.14, 99B.24, 99B.27
Former §99B.16 repealed by 2015 Acts, ch 99, §47