15 AAC 160.820. Bank account

(a) A permittee or an operator shall deposit money collected from gaming activities, less cash prizes, 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 days of the close of the bingo session or within three 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.

(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.

(1) repealed 11/10/96;

(2) may not be drawn to "cash" or to a fictitious payee.

(d) Interest income earned on the bank account required by (a) of this section is subject to the provisions of AS 05.15.150 .

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

Authority: AS 05.15.060

AS 05.15.100

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.