Section 7-169h-21 - Bank accounts, expenses(a) Proceeds from sealed ticket sales shall be kept in a separate special sealed ticket bank account which shall be in the form of a checking account. All receipts from sealed ticket sales less the amount awarded as cash prizes shall be deposited in the special sealed ticket account. The commingling of any funds derived from the sale of sealed tickets with any other funds of the permitted organization is strictly prohibited. Money shall be withdrawn from this special account for only the following purposes:(1) Payment of expenses authorized pursuant to subsection (b) of this section.(2) Disbursement from net proceeds for charitable, civic, educational, fraternal, veterans', religious, volunteer fire department or grange purposes.(b) Payment of expenses. Money for reasonable and necessary expenses ordinarily incidental to the sale of sealed tickets may be paid from the gross receipts of sealed ticket sales only by checks having preprinted consecutive numbers drawn on the special sealed ticket account required and authorized pursuant to subsection (a) of this section. Said checks must be payable to the specific person or organization providing the goods or rendering the services which gave rise to the expense item, and at no time may checks be payable to cash. Only those expenses which are reasonable and necessary and ordinarily incidental to the sale of sealed tickets may be paid from the gross receipts of sealed ticket sales.Conn. Agencies Regs. § 7-169h-21
Effective March 22, 1989; Amended December 8, 1998; Amended November 2, 2012