Sec. 5. (a) A qualified organization shall maintain and submit to the commission accurate records of all financial aspects of an allowable event as set forth in rules adopted by the commission under IC 4-22-2. A qualified organization shall make accurate reports of all financial aspects of an allowable activity to the commission within the time established by the commission as set forth in rules adopted by the commission under IC 4-22-2.
(b) Except for a candidate's committee, a convention license, and an exempt event, a qualified organization shall deposit funds received from an allowable activity in a separate and segregated account set up for that purpose.
(c) A qualified organization conducting a bingo event or raffle under an annual affiliate license shall deposit the funds received from each activity conducted by its separate Indiana affiliates into a single account maintained by a financial institution physically located in Indiana. All expenses of the qualified organization with respect to an allowable activity shall be paid from the separate account.
(d) The commission may require a qualified organization to submit any records maintained under this section for an independent audit by a certified public accountant selected by the commission. A qualified organization must bear the cost of any audit required under this section.
(e) A bona fide veterans organization holding a three (3) year charity gaming license issued under IC 4-32.3-4-16 must submit the following to the commission before the annual anniversary date of the issuance of the three (3) year charity gaming license:
(1) An event summary for each allowable event conducted under the license.
(2) An annual financial report.
(3) An annual gross receipts report.
As added by P.L.58-2019, SEC.4.
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