A. All profits from any bingo game conducted in accordance with the provisions of this chapter by an organization exempt from the payment of the bank and corporation tax by the Cal. Rev. & Tax. Code § 23701d, shall be kept in a special fund or account, shall not be commingled with any other fund or account and shall be used only for charitable purposes. With respect to any other organization authorized to conduct bingo games pursuant to this chapter, all proceeds derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. Such proceeds shall be used only for charitable purposes except that such proceeds may be used for prizes and a portion of such proceeds, not to exceed twenty percent (20%) of the proceeds before the deduction for prizes, or one thousand ($1,000) dollars per month, whichever is less, may be used for rental of property, overhead, including the purchase of bingo equipment, and administrative expenses, security equipment and security personnel.
B. All records related to the operation of any bingo game authorized pursuant to this chapter shall be maintained separately from any other books or records of the conducting organization.
('61 Code, § 18B.8) (Ord. 601, passed - - ; Am. Ord. 644, passed - - ; Am. Ord. 692, passed - - ; Am. Ord. 778, passed - - )