Section 15.160.820. Bank account.

	(a)  A permittee or an operator shall deposit money collected from gaming activities, less cash prizes actually paid, in a bank account with check-writing privileges in the name of the permittee or operator. Deposits for each bingo session or any other authorized activity under AS 05.15  shall be made within three calendar days of the close of the bingo session or within three calendar days of the conduct of any other authorized activity under AS 05.15. The bank account must be separate from an account used for other money of the permittee or operator. After December 31, 2006, the bank account must include the word "gaming" in the name or title that appears on checks and statements, but existing checks maybe used until December 31, 2007.  
	(b)  A disbursement from a permittee bank account described under (a) of this section must be made by a check that is signed by two authorized members of the permittee who are natural persons and residents of the state, except for electronic payment, through the department's website, of the annual fee under AS 05.15.020(c)(2) - (4), the additional fee under AS 05.15.020(b), or interest or penalty under AS 05.15.095(c) or (d).  
	(c)  A check drawn on a bank account described under (a) of this section  
		(1) repealed 11/10/96;  
		(2) may not be drawn to "cash" or to a fictitious payee; and  
		(3) may not be signed in advance or with a signature stamp.  
	(d)  Interest income earned on the bank account required by (a) of this section is subject to the provisions of AS 05.15.150.  
	(e)  Notwithstanding (a) of this section, a permittee desiring a longer period in which to deposit money from an authorized activity must first apply to the department for special permission. If the permittee establishes, to the department's satisfaction, that circumstances beyond the permittee's control justify the extension, the department will grant the request.  
	(f)  A permittee may not accept or cash a third-party personal check from a player for the purchase of bingo cards or pull-tabs, or for participation in any other gaming activity conducted under AS 05.15  and this chapter.   

Authorities

05.15.060;05.15.100

Notes

Reference

15 AAC 160.625
15 AAC 160.822
15 AAC 160.830
15 AAC 160.835

Authority

AS 05.15.060 AS 05.15.100

History

Eff. 7/30/94, Register 131; am 11/10/96, Register 140; am 1/1/2003, Register 164; am 9/3/2005, Register 175; am 11/5/2006, Register 180; am 6/22/2008, Register 186