HARRY HUGHES, Governor                                     1485

drawing or drawings shall be specified on the application for the
license and on the license.

(6) An organization that conducts a raffle for a cash
prize greater than $1,000 shall:

(i) Post a bond in the amount of the cash prize
offered; or

_a j

(ii) Obtain an irrevocable letter of credit
from a bank in the amount of the cash prize offered,

(e) (1) For the purposes of this subsection "game of 50/50"
means a drawing from a finite number of chances in which the
proceeds from the sale of chances are split evenly between the
winner and the organization conducting the game.

(2)  Any organization listed in subsection (b) of this
section may conduct games of 50/50 without a license.

(3)  The cash prize in a game of 50/50 authorized by
this subsection may not exceed $50.

(4)  A game of 50/50 may not be conducted by an
organization listed in subsection (a) of this section at other
than a meeting of the organization.

(5)  A minor may not participate in a game of 50/50.

(f)  As to instant bingo AND MEMBERS ONLY INSTANT BINGO
licenses, the following specific conditions apply:

(1)  Instant bingo AND MEMBERS ONLY INSTANT BINGO may

only be sold or played at the location listed on the license; and

(2)  A person under the age of 18 years may not sell
or play instant bingo.

(g)  Any organization which fails to file a proper report as
required by this section shall forfeit its right to the issuance
of any license authorized by this section for a period of 1 year
from the date the report is due, and until the required report is
filed properly.

(h) This section may not be construed to authorize slot
machines or any type of coin machines to be used for gambling
purposes.

(1) Any organization which operates a bingo, MEMBERS
ONLY INSTANT BINGO, raffle or paddle wheel but which has not
acquired the proper license, or any organization and any person
who signed an application for a license but failed to adhere to
the terms of the grant of the license, or any organization and
any person who failed to file the proper report as required by
this section is guilty of a misdemeanor and shall be fined not