Iowa Code 99B.15 – Prizes awarded by licensed qualified organizations
Current as of: 2023 | Check for updates
|
Other versions
1. Unless otherwise provided, a prize awarded by a licensed qualified organization shall comply with the following requirements:
a. Only merchandise prizes whose value does not exceed ten thousand dollars may be awarded for games of skill and games of chance. If a prize consists of more than one item, unit, or part, the aggregate value of all items, units, or parts shall not exceed ten thousand dollars.
b. A merchandise prize shall not be repurchased.
c. No prize shall be displayed which cannot be won.
d. A cash prize may only be awarded in bingo and raffles.
e. A prize shall be distributed on the day the prize is won, except that if the winner is not present, notification to the winner shall be made as soon as practical.
Terms Used In Iowa Code 99B.15
- Bingo: means a game, whether known as bingo or any other name, in which each participant uses one or more cards each of which is marked off into spaces arranged in horizontal and vertical rows of spaces, with each space being designated by number, letter, symbol, or picture, or combination of numbers, letters, symbols, or pictures. See Iowa Code 99B.1
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Licensed qualified organization: means a qualified organization that is issued a license under this chapter and that complies with the requirements for a qualified organization issued a license under this chapter. See Iowa Code 99B.1
- Merchandise: includes lottery tickets or shares sold or authorized under chapter 99G. See Iowa Code 99B.1
- Qualified organization: means an organization that has an active membership of not less than twelve persons, does not have a self-perpetuating governing body and officers, and meets any of the following requirements:a. See Iowa Code 99B.1
- Raffle: means a lottery in which each participant buys an entry for a chance at a prize with the winner determined by a random method and the winner is not required to be present to win. See Iowa Code 99B.1
2. A licensed qualified organization awarding a prize for bingo is subject to the restrictions provided in section 99B.21. A licensed qualified organization awarding a prize for a raffle is subject to the restrictions provided in section 99B.24.