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WAC 230-10-375

Failing to maintain a positive cash flow.

(1) Bingo licensees must measure adjusted cash flow to ensure that they maintain a positive cash flow and are not operating primarily for gambling purposes.
(2) If a licensee does not maintain a positive cash flow from the bingo operation as reflected in their annual financial statement as prepared in accordance with WAC 230-07-150, the director will take administrative action to revoke the organization's bingo license.
[Statutory Authority: RCW 9.46.070 and 9.46.0209. WSR 14-23-049 (Order 710), § 230-10-375, filed 11/14/14, effective 12/15/14. Statutory Authority: RCW 9.46.070. WSR 07-10-033 (Order 610), § 230-10-375, filed 4/24/07, effective 1/1/08.]
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