Action | Promulgation of Charitable Gaming Regulations by Department of Agriculture and Consumer Services, including electronic gaming provisions |
Stage | Proposed |
Comment Period | Ended on 11/23/2022 |
11VAC20-20-80 Bank Accounts
Para A. Organizations shall maintain a charitable gaming bank account that is separate from any other bank account, and all gaming receipts, except receipts from electronic gaming, shall be deposited into the CGB account.
Why have two separate accounts? If a portion of the proceeds from EGD are considered charitable gaming, why two separate accounts. Seems redundant and burdensome for the organization. There is the expense and time it takes to set up the account. Maintaining and managing two sets of accounts for charitable game.
Recommendation: Organization have one account i.e., Charitable Gaming, which most organizations already have established.