(a) It is the intention of the Legislature that only qualified organizations or qualified clubs which are properly issued permits pursuant to this article or resolution of the Houston County Commission shall be allowed to operate bingo games. A qualified organization or qualified club shall not lend its name or allow its identity to be used by any other person in operating or promoting a bingo game in which the other person has a financial interest.
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Terms Used In Alabama Code 45-35-150.04

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
(b) All bingo cards shall be clearly marked with the name of the qualified organization using the cards and it shall be unlawful for one qualified organization or qualified club to use cards owned by another. Notwithstanding anything to the contrary, with the consent of the sponsoring organization, any individual participant may use his or her personal card, but that individual is not exempt from any fees or charges.
(c) It shall be unlawful for two or more qualified organizations to pyramid the valuation of prizes in a manner to exceed the limits in cash or gifts of equivalent value, as provided in Section 45-35-150.07. The term equivalent value shall mean the fair market value of the gift on the date the gift is given as the prize in a bingo game.
(d) Except as otherwise provided by this article, a qualified organization or qualified club may deduct the reasonable expenses of operating and conducting its bingo games. Reasonable expenses shall be defined as including customary and usual business overhead expenses and as specified in Section 45-35-150.06.
(e) No person shall pay consulting fees to any person for any services performed in relation to the operation or conduct of a bingo game.
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