Allied Charities of Minnesota

GCB Update

15 Apr 2020 08:58 | Allen Lund (Administrator)

GCB: Emergency Loan to Gambling Account

If your organization lacks sufficient gambling funds to restart gambling once the executive order is lifted, Minnesota Rules, Part 7861.0210, Subpart 15s, allows your organization to make an emergency loan from your general account to your gambling account.  Although Board approval is not required to make an emergency loan from the general fund to the gambling fund, Board approval is required prior to repaying the money to your general account.  Once you have sufficient funds in your gambling account to repay the loan, please contact your Compliance Specialist (http://www.mn.gov/gcb/board-staff.html) for details on getting the required approval.

GCB Board Meeting: Due to the stay-at-home order, the April 20, 2020, meeting will be held remotely.  Instructions on how to participate will be posted as soon as the procedure is in place.  If you wish to provide public comment, please submit by April 16, 2020, your name, who you represent, and your comment to gcb.webmaster@state.mn.us.


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