State Codes and Statutes
Statutes > Nevada > Title-41 > Chapter-462 > Charitable-lotteries > 462-200462.200 Limitation on expenditure of net proceeds of charitable lottery; annual financial report required.
1. A qualified organization shall expend the net proceeds of a charitable lottery only for the benefit of charitable or nonprofit activities in this state.
2. A qualified organization approved by the Executive Director shall, after the completion of a charitable lottery and no later than the end of the same calendar year, submit to the Executive Director a financial report on the charitable lottery. The financial report must include a statement of:
(a) The expenses incurred in the operation of the charitable lottery; and
(b) The amount and use of the net proceeds of the charitable lottery.
(Added to NRS by 1991, 2261)
