Licenses for raffles shall be issued only to bona fide nonprofit, business, religious, charitable, labor, fraternal, educational or veterans' organizations which operate without profit to their members and which have been in existence continuously for a period of five (5) years immediately before making application for a license, and have had during that entire five (5) year period a bona fide membership engaged in carrying out their objectives, or to a nonprofit fundraising organization that the village determines is organized for the sole purpose of providing financial assistance to an identified individual or group of individuals suffering extreme hardship as a result of illness, disability, accident or disorder. A license issued by the village shall authorize the sale of raffle chances only within the borders of the village. The corporate authorities shall act on a license application within thirty (30) days from the date of application. (Ord. 02-14, 9-23-2002)