§ 5.10.190. Use of profits or proceeds.

A.

With respect to organizations exempt from payment of the bank and corporation tax by Section 23701d of the Revenue and Taxation Code, all profits derived from a bingo game shall be used only for charitable purposes. At least 90 percent of bingo profits from bingo games conducted in Oakland must be used annually for charitable purposes within the City.

B.

With respect to all other organizations authorized to conduct bingo games pursuant to Penal Code Section 326.5, all proceeds shall be used in accordance with Penal Code Section 326.5. At least 70 percent of the proceeds from bingo games conducted in Oakland must be used annually for charitable purposes within the City.

C.

Organizations applying for a new bingo game operator permit must provide a statement that they will meet the requirements of this Section at the time of application. Permitted bingo game operators must provide verification that they have met and will continue to meet the requirements of this Section with their annual application for renewal.

(Ord. No. 12967, § 4, 7-28-2009)