(A) Operation and conduct of raffles shall be under the supervision of a single raffles manager designated by the person or organization making application for a license.
(B) The manager shall give a fidelity bond in an amount not less than the anticipated gross receipts for each raffle.
(C) The bond shall be in favor of the organization and conditioned upon his or her honesty in the performance of his or her duties.
(D) The bond shall also provide that notice be given in writing to the village not less than 30 days prior to its cancellation.
(E) The Mayor or his or her designated representative is authorized to waive requirement for bond by including a waiver provision in the license issued; provided that the license containing the waiver provision shall be granted only by unanimous vote of the members of the licensed organization.
(1994 Code, § 31-1-7)