Section 99B.15. Prizes awarded by licensed qualified organizations.

  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.

  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.

2015 Acts, ch 99, §32, 56

Former §99B.15 transferred to §99B.4; 2015 Acts, ch 99, §56

NEW section