Tex.
Occ. Code Section 2002.0541
Reverse Raffle
(a)
A qualified organization may conduct a reverse raffle as provided by this section.(b)
Notwithstanding Section 2002.056 (Restrictions on Prizes)(a), a refund of the purchase price of a ticket may be awarded as a raffle prize in a reverse raffle.(c)
Notwithstanding Section 2002.055 (Ticket Disclosures)(3), after the drawing of tickets in a reverse raffle has begun, the qualified organization conducting the raffle may auction off additional tickets to persons who are present at the drawing for a price other than the price printed on the ticket.(d)
After the drawing of tickets in a reverse raffle has begun, the qualified organization may permit a ticket holder present at the drawing to resell the ticket to another person present at the drawing for an amount greater than the original purchase price of the ticket. The sale must be made through a designated representative of the organization, and not less than 10 percent of the sale proceeds must be retained by the organization.(e)
Notwithstanding Section 2002.055 (Ticket Disclosures)(3), after the drawing of tickets in a reverse raffle has begun, the qualified organization may permit the holder of a previously drawn ticket:(1)
to purchase additional chances for the ticket to be selected to win a prize; or(2)
to purchase additional tickets for the raffle.(f)
Only the portion of the proceeds from the resale of a ticket under Subsection (d) retained by the organization are subject to Section 2002.053 (Use of Raffle Proceeds). All proceeds from the sale of additional chances for a ticket under Subsection (e) are considered to be proceeds from the sale of the ticket for purposes of Section 2002.053 (Use of Raffle Proceeds).
Source:
Section 2002.0541 — Reverse Raffle, https://statutes.capitol.texas.gov/Docs/OC/htm/OC.2002.htm#2002.0541 (accessed Jun. 5, 2024).
