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PDFWAC 230-11-013

Conducting a raffle by a credit union.

The following requirements apply when a credit union organized and operating under state or federal law conducts a raffle:
(1) All revenue received from raffles, less prizes and expenses, must be devoted to purposes authorized in RCW 9.46.0209(1); and
(2) Tickets for such raffles can be sold only to, and winners are determined only from among, the regular members of the credit union; and
(3) All recordkeeping requirements outlined in this chapter must be met; and
(4) A license must be obtained if gross revenues from all such raffles held by the credit union during a calendar year exceed five thousand dollars.
[Statutory Authority: RCW 9.46.070. WSR 19-23-071, ยง 230-11-013, filed 11/18/19, effective 12/19/19.]
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