Before operating under shared management and facilities, bingo licensees must meet the following requirements:

(1) No more than three bingo licensees may share a facility.

(2) Licensees must send us a written notification of the intent to share facilities at least thirty days before operating in a shared facility. The notification must include, at least:

(a) The name of the lead organization and lead manager; and

(b) Name of all organizations sharing the facility; and

(c) Names and signatures of the highest ranking officer for each organization involved; and

(d) Copies of any written agreements between organizations; and

(e) The method for sharing the gross gambling receipts, net income, expenses, and prizes among the licensees.

(3) All managers of the bingo operation must be full and regular members or employees of at least one of the participating organizations.

(4) Nonprofit gambling managers must not participate in the operation of bingo games at more than one bingo facility.

(5) The lead organization must maintain the records clearly disclosing the amount of money the bingo operation received and expended. Expense records must make known the purposes for which the organization spent money.

(6) The lead organization must establish and maintain a separate bank account to which it will deposit all proceeds from the bingo operation and from which it will pay all of the expenses in connection with the bingo operation, including at least, all payments of prizes.

(7) Each licensee must keep records of gambling proceeds received from the bingo operation and the use of those proceeds towards the stated purpose of the organization.

(8) Each licensee must complete a separate quarterly activity report according to the percentage of gambling receipts and expenses it is responsible for under the terms of the written contract between the licensees.