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❑. The gambling Tanager shall account for all gross <br />receipt:, expenses and profits from gambling devices and raffles, <br />be responsible for the operation thereof, and filing all reports <br />required by this Section. <br />I. Each licensee shall keep records of its gross <br />receipts, quantity of free plays, if any, expenses and profits for <br />each single gathering or occasion at which gambling devices are <br />operated or a raffle is conducted. All deductions from gross <br />receipts for each single gathering or occasion shall be documented <br />with receipts or other records indicating the amount, a description <br />of the purchased item or service or other reason for the deduction, <br />and the recipient. The distribution of profits shall be itemized <br />as to payee, purpose, amount and date of payment. <br />J. Gross receipts from the operation of gambling <br />devices and the conduct of raffles shall be segregated from other <br />revenues of the licensee including bingo receipts, and placed in a <br />separate account. Each licensee shall have separate records of its <br />gambling operations. The gambling manager may be the bingo manager <br />for the licensee. <br />K. Each licr isee shall report monthly to its <br />membership and to the Council its gross receipts, expenses and <br />profits from gambling devices or raffles, and the distribution of <br />profits itemized as required by this Subdivision. <br />L. Records required by this Subdivision shall be <br />preserved for three (3) years and the licensee shall make available <br />the records relating to operation of gambling devices and the <br />conduct of raffles for public inspection at reasonable times and <br />places. <br />M. Except as otherwise herein provided, gambling <br />devices shall be operated and raffles conducted by a licensee only <br />upon premises which it owns or leases except that tickets for <br />raffles conducted in accordance with this Section, may be sold off <br />the premises. <br />N. Total prizes from the operation of paddlewheels, <br />tipboards and pull -tabs (or ticket jars) awarded in any single day <br />in which they are operated shall not exceed $1,000.00. Total <br />prizes resulting from any single spin of a paddlewheel, or any <br />single seal of a tipboard, each tipboard limited to a single seal, <br />or from a single pull -tab (or ticket jar) shall not exceed $150.00. <br />Total prizes awarded in any calendar year by any licensee from the <br />operation of paddlewheels, tipboards, and pull -tabs (or ticket <br />jars) and the conduct of raffles shall not exceed $35,000.00. <br />Merchandise prizes shall be valued at fair market retail value. <br />O. An organization which directly or under contract <br />to the State or a political subdivision delivers health or social <br />services and which is exempt from taxation pursuant to section <br />501(c)(3) of the Internal Revenue Code, as amended through December <br />30, 1981, may award total prizes in a calendar year from the <br />conduct of raffles, in excess of the limitation provided in <br />S+,hparagraph N of this Subdivision, provided that the prizes <br />consist of real or personal property donated to the organization by <br />an individual, corporation or other organization and, except as <br />hereinafter provided, the organization complies with the other <br />requirements and restrictions of this Section. An organization <br />defined in this Subparagraph is not subject to the membership <br />restrictions of Subparagraphs C and F of this Subdivision or Item 8 <br />of Subdivision 1 of this Section, nor is it subject to the <br />compensation limitations of Subparagraph E of this Subdivision. <br />